The last week of 2017 is here, with the holidays in full swing and most traders focused on vacation. We do not expect much this week, despite the interest in energy stocks last week. In addition, biotech will likely continue to see some activity. Tech, on the other hand, is weak this morning, led by disappointing news for Apple’s iPhone X shipments. This news sounds like an opportunity to me.
Holiday Watch List
We are focused on energy and biotech. DQ and FANG are new to the IBD50 list.
FANG and DQ are new on the IBD50 List, with the latter printing what looks like two white soldiers. We are looking for a third today, with RSI and MACD pointing to higher prices. Volume is present showing institutions are present.
FANG is beginning to print a flag. We would prefer a bit more sideways action for an entry, though scalpers can look for a Trade of the Day set up for a quick trade.
Check the comments section for additional setups and a few carryovers from last week’s watch list. STMP and SITE look like they will follow through at some point. We’ll also look for signs that SKX and NKE might continue. The latter had earnings last week.
PS Do not ruin your holidays by over trading. If not for the LIVE broadcast I wouldn’t be trading this week.
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