This is not a bad response to the Friday yield curve inversion worry, but it is also not a strong rebound. There are some very interesting setups/tests taking shape, e.g. AAPL, NVDA, GOOG, AMZN, FB, V, MA, AMD, ULTA, ADBE -- several -- setups that can lead to a bounce but are not ready to do so necessarily today. We did pick up some AMZN and really like how AMD, NVDA are setting up and ULTA as well. It is not, however, a new bounce yet.
Thus, a bit of patience both for new positions and letting some existing positions work as they test support. That said, ULTA looks good while INTC and TXN are wobbly and watching to see if the latter 2 can rebound more into the close to hold near support.
SP500 0.43, -0.02%
NASDAQ 3.22, 0.05%
DJ30 32.85, 0.14%
SP400 0.31%
RUTX 0.64%
SOX -1.09%
NASDAQ 100 flat
______________________________________
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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