01Nov10:46 amEST

Gobbled Up Into the Gap Up

Despite a sizable gap up on several indices this morning, the small caps are flipping back to red as I write this. The Nasdaq is not faring much better, as it is flattish here. 

However, despite the mixed bag below the surface we may simply be seeing some early shakeouts before what figured to be a very event-filled rest of this week, with AAPL FB TSLA earnings (among many others), as well as The Fed and then jobs report. 

Thus, I am inclined to not draw too many conclusions, either way, off the morning action just yet. 

We are also closely monitoring some recent earnings winners for fresh, low risk long entries. 

First Solar is just one example of a recent earnings winner, updated below on the daily timeframe. Speaking of shakeouts, yesterday's weakness is now beginning to feel like one for FSLR. As long as the domestic solar can hold over $52 (and preferably higher than that), it is hard not to think a fresh breakout is well underway and may just be getting started. Trump Wall solar panels or not, the solar sector continues to make technical strides. 

Stock Market Recap 10/31/17 ... Turning Back Napoleon as Win...

 
BackToTop
 

This website is intended for educational purposes only. | © 2024 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site