GLNG Resting on T-Line, Bullish Flag

GLNG has broken out and now resting on the T-Line with a Bullish Flag, Doji, and a near Bullish Engulf. Bullish trading over $30.90 should encourage more traders to follow, a breakout over $32.40 could produce a swing to the high $37.00 area. $40.00 possible with follow through. FYI the market must cooperate. We will cover more details about stops and entries in the HRC trading room.

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ADM 41% • IWM 13% • SHLD 57% • FOSL 11% • IWM 49% • CVEO 29% • GE 11% • ANF 56% • CREE 51% • FLO 3% • VXX 6% • CAT 39% • TWTR 50% • FEYE 28% • OCN 39% • TWTR 54% • QQQ 28% • QQQ 179% • TWTR 180% • VXX 375% VIPS 118% • WTW 21.9% •

Event Calendar

SPY •

Facebook reported well and seemed to be holding pre-market. Above $167.10 should make the market a little happy.

Yesterday the SPY found the 61.8% Fib retracement and closed with a Hammer; I suspect we see the buyers attempt new high today. The important number to beat in the very near future is the $265.00 line, that would put the buyers in a position to challenge the $268.00 line and the bearish downtrend line.

The VXX chart did not back off much yesterday, but I see it has backed off a little this morning pre-market.

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