The afternoon did not produce a further pullback but instead a move higher and to session highs for the indices and of course name brand stocks. With that you have to remain somewhat skeptical given the open was basically the low point without further selling.
That said, NFLX looks good (picked up positions earlier), AMZN as well. Others are touching entries but the patterns are not totally convincing. Those tested over the past 15 minutes and are likely going to bounce again. AMZN would be a decent entry though with all of the volatility down and up, not wanting to load up.
SP500 31.63, 1.21%
NASDAQ 110.64, 1.61%
DJ30 427.10, 1.75%
SP400 0.73%
RUTX 1.21%
SOX 3.03%
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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