As Prophet Alerts subscribers know, I have been looking for a potential bounce in the market, namely from the 9,774 level as a potential bottom off the May 25th lows. It seems the market is looking for a pop, whether short term or longer term is still to be determined.
Key levels to look for in the Dow are 10,237 and 10,238 (200day EMA and Moving Averages). There is a lot of resistance above this market but I feel a short term pop to Dow 10,500 may be possible if we can get some catalysts next week. The market has become extremely news driven, and going into options expiration week I feel we should get a pop so market makers can profit on the puts sold to the bears this past week. I guess we will see!
I go over in this video our AKS position that I have been scaling into. My average price is now $13.56 in my trading account and $12.66 in my Roth IRA. I love this stock long term, my short term price targets are $16-18 however.
Key levels to look for in the Dow are 10,237 and 10,238 (200day EMA and Moving Averages). There is a lot of resistance above this market but I feel a short term pop to Dow 10,500 may be possible if we can get some catalysts next week. The market has become extremely news driven, and going into options expiration week I feel we should get a pop so market makers can profit on the puts sold to the bears this past week. I guess we will see!
I go over in this video our AKS position that I have been scaling into. My average price is now $13.56 in my trading account and $12.66 in my Roth IRA. I love this stock long term, my short term price targets are $16-18 however.