$SPY reclaimed the 50EMA@244.37 (daily chart), breaking the downtrend, remounting the 245 area.  Can expect further pushes towards 247 and then 250.  Previous dips have been bought up and gone on to form new highs. 

 

$USO (oil) has had back to back hammer then inverted hammer candlesticks on the daily which means today will be a key time to see reversal or of this will slip back to new lows.  With the hurricane potentially shutting down ⅓ of the refineries that service the US, oil prices are expected to increase.  Above 9.50 would be the start of a bounce, any further dips and this could fall back below $9.

 

$IBB is back bullish again, breaking > the 323 mark. Next mark is 330, new 52w high mark. 

 

$GDX, gold has been a hot item lately as the turmoil in the world seeds doubt. Unfortunately for gold this has not led to much of a pop. Gold is still below the 50EMA on the monthly chart. The resent weekly and daily charts show a breakout on the pennant (triangle) pattern to the upside. Need a push through $25 to confirm. 

 

What this points to is that stocks are strong and that means that ’safer’ assets like gold and commodities are going to remain weak. 

 

$AKAO, Short < 18. Failed the $20 test. Even with $IBB strong this stock is down trending, now breaking the 200MA. Next PT $16, then $12. 

 

$FCX, Short < 14.50, After breaking above the $15 level this has retreated hard below. The market has also been weak on commodities and now FCX has bad news as they are forced to sell ownership one of their largest and most profitable mines to the local government. 

 

$IMGN, Long >8.80. Another biotech that is popping off the curl. This has had a huge run the last few days. Confirmation of another breakout could send this shooting up again as it is sitting right under the 200SMA on the weekly chart.  PT at $10 (natural resistance) then it could run to $14 and $20. 

 

$ITCI, Long >18.75. As mentioned, with $IBB strong, all strong biotech will get an added boost.  This stock had a solid flag after its jump and is now jumping again. While it may consolidate here, another pop would be very bullish and could lead to another large jump. 

 

$MOMO, Long >$37.50. This is rebounding off its lows, curling nicely, has room to $40 then $45. Technology sector ($XLK) has been very strong lately, near 52 week highs. This should help this stock bounce as well. 

 

$MNKD, Long>$2.  While not a typical play on such a beaten down stock, this does have a couple things going for it; the strong $IBB, the curl to multi month highs and cross-over of the 200SMA >$2.  With a large short float, this stock can run. 

 

$PRTK, Long>26.85, strong b/o >$26, Pt $30 then $33. On the weeklies is a giant u-shape breakout. 

 

$ZN, Long > 3.90. This is a back burner play in response to how oil does.  It has been known to spike so if oil breaks out as mentioned above then I would look to this stock to run as well. PT @5.80 then $7