Good Morning folks.
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SPY, went into the cloud briefly on 10/06 and came back above the cloud next two days. As shown in the chart, it crossed the flat line resistance of 340 on 10.7 and crossed the flat line resistance of 342.66 today. It started this upward movement touching 334 flat line support of 334.57. Still the downward movement to the bottom of the cloud and below 319.80 is not ruled out unless it crosses 346.80 gann angle as shown below. It reached a high of 345.96 in the premarket.4590135180319.8328.8337.80346.80
Home builders and home related stocks showed up in the scanner yesterday. LEN, KBH, TOL, PHM all showed up. Even LOW and HD might make a move upwards for the next 2 -3 days. HD has potential of getting to 296 and LOW can go to 176.
NVDA was downgraded today but feel has some legs and can go to 578. DPZ was upgraded. I believe this stock can get to 450.
Wish you a profitable trading day !!!!