Last week we finally got that pullback in the market we were looking for, but I definitely expected it to last more than a day, but did very well the rest of the week. The trend remains higher as the market exploded on a huge jobs number Friday. Not much news this week besides the Fed giving outlook statements on Wednesday.
Right now we are a bit extended in the indices following the monster 4 day up move on Turnaround Tuesday last week. I will likely be a bit more hands off to start the week, and look to initiate trades later in the week if the action is what we are looking for, healthy consolidation.
Tomorrow begins the final two week push of the year before volume dries up for the holidays. Time to make them count!
Click the Pic for Detailed Look
Some earnings I'll be watching closely this week are CHWY, SFIX, MDB, TOL (really nice daily flag below 41.50), LULU, ADBE, COST, ORCL & AVGO.
OSIS Long
OSIS looks ready to turn higher out of the base its been working on the past 7 weeks. If you look at the weekly chart on the bottom, you can see a massive resistance to support flip, which was such a positive layer of probability that it edged out the other setups in a week that's plentiful.
The one thing I hate about this setup is that it closed right at resistance, making it tricky to look for an entry Monday. If this goes right off the open Monday, I will either let it go or enter small since I believe the broad market is a bit extended after last week's major run. Ideally this hangs out and does nothing the first half of the week and triggers in the latter half of the week. We'll see how things progress. Watching the 101 area for some big time volume.
