SP-500 Set To Open Higher

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SP-500 Set To Open Higher

The SP-500 is set to open higher this morning and the DJ-30 set with a triple-digit open, but the big question is this the start of a bullish turnaround? To be a bullish turnaround, we would need to see a bullish bottom constructed and price above $271.90 on the SPY. On the other hand, a good bullish bounce would make for a great relief rally. Last week was another hard week for stocks, and the negative candles on the indices proved it. FANG stock remains weak as can be seen on the FNGU chart, price below the T-Line and the T-Line below the 34-EMA.

BECN RBB Setup

BECN is an (RBB) Rounded Bottom Breakout Setup, not that price has closed above the 50-SMA, and there is at least 10% between the 50-SMA and 200-SMA. The Bullish Engulf a few days ago was a bottom test followed by bullish follow through. With a swing target near the $42.50 area, BECN is a trade candidate to add to our LTA-Live Trading Alerts Real Time Market Scanner watchlist for a buying alert. BECN bullish above $31.75, stop below $29.90

****VXX – At the close Friday the VXX chart was on the bullish side suggesting fear, below $36.00 would suggest fear is under control while over $36.00 would suggest fear is once again fueled.

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