People – support and resistance – that’s what matters most in this market.
The bulls have plenty of support underneath them, particularly with the 2801 level, and they have very little resistance above them. The one spot being, at this point, the all-time highs established in January.
That means, even though the market showed signs of progressing lower last week, (i.e. Tuesday and for 5 minutes on Wednesday), the bulls have managed to effectively turn the flow of this market back towards those all-time highs.
Does it mean we will go straight up? Nope, but some of your stocks that were decimated during earnings season, are starting to come on strong here – note my two favorite, Facebook (FB) and Netflix (NFLX) – and they are only my favorite because I managed to jump in them on Thursday of last week. So yeah, they are favorites of mine, until they stop going up.
Below you’ll find my bullish watch-list that I will be using in the SharePlanner Splash Zone for my swing-trades. So check it out, find out what works for you, and let’s trade.
Here’s the bullish swing-trading watch-list:
