Major markets had another tough day. However, this may the base forming as the $RUT and the $TRAN are already bouncing up.  The $SPY rebounded slightly led by the $SML and $MID caps. If Monday continues this upward trend we can be looking at the next leg up in this market. If it fails and starts to turn back red then this could be a fake out bounce and it could be a long summer as the June comes to a close. These pivot points are good indications of the markets mood. $IBB is one of these on high watch do to its hanging-man candle stick. If it continues up then it could have a lot of momentum. If it fails here then it could continue. Many will be watching this indication as the hanging man usually is followed by the trend maker candle. 

 

$CARA, Long > $23.55. Another hanging man candle. Move over that prev high and it will move strongly up. If it fails that it will be coming back down. Down is more likely since that large gap up that couldn’t hold from Friday. Float of 29.6M and short ratio of only 3.5 days. Strong history of runs. Watch this and the $IBB close. 

 

$CLDR, Short<16.30. 16.16 key support, friday LoD in the early morning. Still trending under the 50EMA (5m). As first mentioned over a week ago, this has been a nice steady decliner.  It failed and it has continued the fall. This is not normally my short, above the low. Next goal is prev low. Expect a bounce there as the bounce is anticipated. The size of that bounce will tell the direction. 

 

$CLF, Long >6.77. Basic materials are rebounding. This broke through 50MA solidly, 200MA@ 7.73. If it breaks through $7, that is the next resistance. Long term the chart shows u-shape up to $12. Bigger float, 283M and SR@3 days. This one will be a slow climber. 

 

$ENZ, Long > 11.61, Another strong day up with a thick candle. After broking out of its flag above $11, it retested it and had a big move up. With $IBB still strong, all biotech will continue to rise.  Next RES is $15.  Big caution is volume is low. 

 

$SPWR, Long >$9.30 solar continues to be hot. President Trump’s speech about funding the ‘wall’ with Mexico with solar panels.  17M float. SR@ 11 days. Resistance at low $9’s. Break of $10, and then $11, this thing can really run with $16 the next price target. It had a spike in Feb from 6.50 to this 9.30 area that failed so it needs another strong green candle to prove itself.