The DOW is currently in consolidation mode and the Nasdaq has a little more room to go before it challenges its previous high.
I do not see any solid trend in commodities yet and a lot of this is due to Crude Oil and the Dollar.
Just a couple of trading ideas.
MA is still caught in its descending channel, be prepared for a resumption of the trend or a possible trend change.
SFD is trending up, the delta is pretty high for a decent trade. Try buying closer to the 20 MA.
AMZN still have some room to go, however...if you see choppy action in a tight range...be cautious. As for me, I will just wait for a h/s or triple top to form.
FDX
NKE could still be in a position to retrace judging by the spike in volume.
I am also watching HON, this company is reporting earnings on 7/27/2009.
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