Another choppy session in the market on Wednesday and another day of adjusting our trading plans to fit the action. Here is an update for today...
$ABAX long on any pullback to 28.50.
One short position and some short setups going forward.
$ATML Breakdown on volume, MACD/RSI confirming, weekly chart confirms MA Crossover. Needs to close below 12.45 (200MA on weekly). Next support at 12 then 10. Short here or on a pullback to 12.75.
$AMAT Broke below 15.66 on volume, MACD/RSI all say lower. I have a sell order in at 15.30 but will watch this level and adjust the order accordingly.
$ALLT Broke support at 13.69 on volume and selling accelerated into the close. MACD/RSI point lower. Short here or on a pullback to the 13.70.
Going to be another choppy end to the week I'm afraid. Futures are pointing down as I write this.
Trade well; trade smart. See you all on the stream.
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