UAA Looking For $30.00
UAA is looking for $30.00 after the stocks recent gap the bulls have held it well, and the sellers have stayed away. I am bullish above $23.25 and will be working the chart for entry between $23.25 and $24.60. A bullish breakout and follow through is required for the $30.00 target area. The weekly chart is putting together a nice trend with higher lows. UAA bullish above $23.25 Stop below $22.70 first target $26.85.
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SPY • Mid-Term Elections
Mid-Term elections will likely cause chop and confusion until they are over. There are plenty of great looking charts but I suspect they all will come with a chop and a bit more volatility then some swing traders would like. The SPY has rallied the last few days back to the 200-SMA, and like most of the time the 200-SMA is a big bridge to cross, and with the elections, the price may just camp out until the market feels it knows how the election will turn out. I will be managing the positions I am in, may buy or sell a couple, but will keep some cash ready to spend on the sidelines.
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****VXX – The VXX chart is still a bullish chart pattern and can raise it’s head anytime. The VXX is a great baramitor to the fear in the market.
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