MU hit the 200 DMA on the daily and pulled back as I had hoped. Made a little coin on that move. The stock is still in overbought territory, but PPO and ADX just flat lined instead of pulling apart with some volume. Stock put in a doji on the weekly and actually closed the week above the 200 DMA on the weekly. Lets see if price action and volume can tell us anything next week. Bears and Bulls in a tug of war at the moment.
On MON the daily resistance is holding and PPO and ADX are starting to at least curve some. Stock broke to the downside of the 30 min channel today before retesting the daily resistance. Stock did close above the weekly 200 DMA. Again, wait and see what volume and price action tell us next week. Made some coin on this one this week to, but I did not like that $1 spike after I shorted it. Gave me a chance to average down though.
LVS bumping into the upper line of the wedge. It actually closed right above it. I almost shorted it today, but figured I better wait. It's got a nice channel going on the 15 min, so I might wait and see if it test it, and what it does. This stock also has a very nice weekly channel.
Edited by SemperFi - 1/14/12 at 3:39am