I traded the SPY today, to catch the big move of most of the component stocks.
The watch list still remains in play, technically nothing has changed much. Most of today's move was due to energy.
FDX gapped up and sold off only to end the day almost unchanged. I believe FDX could continue trading in a tight range or reveal its real trend soon.
AMZN is showing similar behavior, IMHO it is still too early to tell which direction this stock is going.
MA is a very much in control by the MMs and could be in for some choppy trading if the downtrend does not resume.
The real money is usually made in the direction of a trend. However, the market is still Neutral for now....best not to be too bullish or bearish.
July could either be a down month or a theta burning month. FDX, AMZN is not at extreme highs for a decent short...any downside would have been surported by at at least 2 layers of MA. Very dangerous market for bulls and bears indeed
Made a decent profit on DRI, see where this thing is going next.
Keep an eye on NKE
MA still need to reveal more
FDX likes to form triangles, let see how this playout...but usually a nice trade will surface within 15 days...lol
AMZN could be setting up for a range trading environment.
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