Ugly morning internals suggest continued afternoon downside
Morning internals have reached greater than 2:1 downside levels in breath, downside/upside volume with TICKS hitting -965 level. Lowest since Oct 11th '06
(-1121) level.
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Stock recommendations and market commentary for the active investor
Pilobolus Global
Previous Posts
- Early BUY: (CMG 437) Chipotle's strong price action from renowned activist Bill Ackman (see link below) pushes CMG up to recent breakout territory in the Mar '16 447 area. Despite the fundamental mix of opinions regarding CMG, look for ST higher price action initially near 475 area. Expect volatile price action going forward as company sentiment remains fragile, however, brand recovery remains a long-term goal. LT price targets could reach 600 price area as continued base-building, recovered MA's and other technical factors re-create a bullish argument
- BUY: (MACY) Macy's. Look for initial upside target in $49 price range with LT price target in $65 area.
- BUY: (FB) Facebook
- BUY: (WYNN (112.16) Wynn Resorts. Recent breakouts above Sept '16 highs (109.5) bode well for sustained base-building higher price targets.
- BUY: (LVS 55.02) Las Vegas Sands. Recent breakouts above March '16 highs (53.96) bodes well for sustained base-building higher price targets. With rising MACD and 50/200 MA's, look for initial target pricing near Nov '15 high of 65 area. Higher LT price targets could reach Feb '14 highs of 85 price area.
About Pilobolus Research
Seth F. Wolff
A ten year institutional market strategist formerly with IdeaGlobal & Charles Schwab (Cybertrader Corp) advising institutional clients in the equity,commodity and fixed income area, with prior roles in institutional research sales in North America. Seth has also appeared in media coverage including Dow Jones and Bloomberg. A graduate of the University of Arizona with a B.S. in Finance and continuing studies at NYU Graduate Business School, Seth has also been a member of the Market Technicians Association (MTA) since 1990.
A ten year institutional market strategist formerly with IdeaGlobal & Charles Schwab (Cybertrader Corp) advising institutional clients in the equity,commodity and fixed income area, with prior roles in institutional research sales in North America. Seth has also appeared in media coverage including Dow Jones and Bloomberg. A graduate of the University of Arizona with a B.S. in Finance and continuing studies at NYU Graduate Business School, Seth has also been a member of the Market Technicians Association (MTA) since 1990.
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