Once again the markets held the up trends. The only market having a bit of trouble is the Russell 2000 as usual but it is holding above the key support level at $115. The others are all holding in a consistent 30 minute time frame trend with higher highs and lows. There is just no arguing with it, also we still have fresh setups triggering with a good environment for stocks. This slow grind higher through November in the indices has been the rising tide for stock setups and it continues for now.
As far as the SPY and QQQ go I don't have much to say except pay attention to the relevant time frame trends and swing points inside of them, which in this case is the 30 minute. The Russell just needs to hold above $115 to stay positive and get a new trend going to break through the $118 previous daily high.
The watch list changed a bit this weekend and there are still some great new potential here even going into the holidays. Names like SBUX, MU, AKAM, BIDU, DE, V, MET, AA will be at the top of my names on watch.
So we have a shortened week coming up Thanksgiving on Thursday and that calls for a shortened blog post this weekend. Thanks for reading
-Michael
