Wednesday, October 21, 2015

Starter Links, Looming Resistance

I'm not overly excited about the current risk reward ratio for new longs at this juncture.  We have rallied significantly from oversold levels to a mountain of supply.  Whether or not the overhead supply will be an issue remains to be seen. I'm also seeing a bunch of companies miss their numbers, however for the most part their stocks have reacted well after the miss; INTC, GS, GE, JPM, to name a few.

Narrow Focused Bounce

Overhead Supply

Options Expiration Overhang

Resistance Levels Worth Watching

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