Drone Surveillance on Amazon

Amid another morning where the indices are resilient and pushing higher yet, the action below the surface is still a bit sluggish. TSLA, as we observed yesterday, is now up to major resistance trend dating back to last summer with the latest squeeze this morning, making it tough to do much of anything at the moment while we see if the steep rally eventually runs out of steam due overhead supply and a lack of net progress in two years. 

Biotech and healthcare are flipping to green as I write this after lagging miserably the last few weeks, though it is impressive to see the space shrug off VRX down another 5% this morning. Overall, this is still a quick-hitting market for new trades, in terms of holding period.

I have my eye on a few regional banks this morning for potential scalps, as well as some short squeeze plays if bears start to noticeably capitulate across the board. 

If and when the indices start to crack, a leader like AMZN would be on my short radar. We noted the weakness yesterday, and today's selling takes Amazon back down to the critical $550 level. I would use this as a dividing line of sorts between whether to consider a short going forward, combined with, of course, the broad market actually going down. At this rate, we may not see that until after Easter.