Big Picture Set Up
ABBV we might just been getting away from the pain of this trade as ABBV gets back near its prior short term highs. At this point we should be looking to sell at the retest if it continues this move higher.
Will be keeping an eye on $84 in AMD as it has started to put in higher pivot lows and showing us a clear level of resistance.
With a great earnings reaction DHR is climbing to new highs, there is no resistance at these new highs until buyers get tired. A stop below $247 or $237 could also make sense.
DRI with earnings behind it, is showing us a nice Bull Flag on the daily chart, almost Blue Sky's, will be looking to be involved above $148 and $150 vs $140.
MMC has grinder higher nicely so far, as we are seeing some indecision at highs, could be a time to expect its first shakeout.
MU could be a support buy back candidate shortly as it continues to pull back into this major support level. One to keep on the radar.
MXIM is setting up for a textbook Blue Sky Breakout with earnings on Tuesday that could be just what is needed to push it to new highs.
PHM had a little shakeout and has continue to hold above the $50 Blue Sky Breakout level, seems for now the stop should still be vs $50 with the goal to add above $55 in time.
QLYS has had a seller at this $108 for quite some time now, will be looking to buy above $108 in time.
The real out is vs $47 however if you bought up off support through $52 you could have a stop vs $56, we should be looking to add about $65 in time.
If you are holding into earnings on Tuesday, the proper out will be vs $154.