Spent the morning restructuring remainder of chart layouts. Was able to look at charts in doing this but not as thoroughly as usual morning game plans. Most indicie & sectors seeing gap up & there seems to be strength holding in /ES. Information technology looks promising, as well as communication services & real estate.
Bti Gap up look for reversal
COST gap up above 450 daily level, potential for continuation
Energy:
SHEL, XOM, BP, COP all look like they could have more downside. However in premarket, most if not all have gapped up. PBR & ENB seem to be showing considerable strength, look to daiuly to confirm. EQNR as well.
Financials:
JPM looks close to opening above daily level, almost all names have gapped up, hsbc considerable gap up. GS gap up near daily level but not broken above, jpm looks like best bet. BAC potential too, must chart daily.
Health Care:
Nothing jumping out as immediately promising. Maybe azn for continuation after gap up, potential for jnj to gap and fo perhaps, but not as clean of chart as some of financials.
Industrials:
BA & UPS look for upside continuation. Daily looks promising. FDX looks promising for continuation as well, gapped up. Be warry of gap fill. MRK as well
Information Technology:
NVDA gapup above daily level looks good for continuation. MFST gap up near 252 level, if it can overcome then looks promising for scontinued upside.
Materials:
Nothing Jumping out
Real Estate:
Extraordinary daily volume on O & AMT & WELL. PLD Gap up & Opening near Daily level. o
You’ve got some good selections though you were not able to be as thorough in your premarket charting. Give the open time to work out, there seems to be some issues with charts from the three day weekend with this new Juneteenth holiday. /ES has made up considerable ground & seems to be holding above 3725 level, but what could be small head & shoulders on hourly looks like it could be taking shape. Give names time to open.
BA Daily has exhibited considerable strenght, argument for bull flag could be made, however opening near significant 140 resistance level, exercise caution here, if it doesn’t push through with conviction there could be strong rejection.