Monday June 26th WatchList

IWM is still in an upward channel with little weakness to report. However, it’s kind of stuck in no-man’s land, so I don’t feel an edge either way. A pullback to the bottom of the channel would be fantastic. Until that happens (or a test to the top side), I’ll focus on individual stocks and shorten time frame goals.

IWM Daily

[iconbox type=”3″ mt=”” mb=”” icon=”ty2-chart-alt” title=”Monday, June 26th”]

Watch List

[/iconbox]

As much as I wish I could buy energy here, the XLE chart shows no signs of bottoming and continues to move below SMA200 (weekly). As a swing trader, there is no reason to go long.

XLE Weekly

Solar stocks had a pretty strong week and TAN was up over 2% on Friday (6th up day in a row). A lot of the components stocks (SPWR, RUN, CSIQ, etc. ) might be a little extended and worth watching for new entries. FSLR currently at resistance. TAN has a lot of room to the upside if this strong resistance level gets taken out.

TAN weekly

GLD and GDX are interesting here (I’m long GLD). There may be some opportunities in the miners this week.

GDX Weekly

Tech stocks (XLK) and cyber security (HACK) ended the week well, but still off highs from earlier in the month. It’s hard to say whether or not Friday’s move was a sign of a new long trend, but the volume was promising.

XLK Daily

XBI is going nuts. My trading account went up 10% last week alone thanks to profits in small cap biotechs. It’s fun, but very volatile, so I usually balance high-risk biotech trades with lower beta, trend followers.

Stocks on Watch

NFLX ended the week strong (I’m long) and I’ll likely keep it as long as sma100 holds.

NFLX Daily

SWKS, MSFT, AMAT have a similar setup to NFLX. Worth watching for long swing.

The only retail stocks I’m watching right now (excluding online retailers) is ULTA. It’s been a rock-star for year and SMA100 tends to be an inflection point. I’ll be keeping an eye on this megaphone and will go long if support holds (Price outside of bollinger bands, too).

ULTA Daily

It’s been a while since MWA was in play, but I’m considering a long swing trade if it can finish a day above sma50. I did well in MWA last year and am hoping it recovers from the fall from $14 to ~11.

MWA daily

ADI is one of those stocks that nicely follows the fibs. Take a look at the chart below. You’ll see a nice bounce at 38.2% and some resistance at 23.6% (82.92). That’s what I’m watching for. If it gets above, I’m long.

ADI Daily

VRAY (I’m long) had a huge volume day on Friday, but failed to breakout of a tight range dating back over a month. I’m still hopeful, however, that VRAY is just coiling for another kaboom.