Bigger Picture

Don”t forget about the Afternoon Rush at 3:40pm ET… 7-10 minutes for requesting a look at last-minute price action of relevance.

SPLI — Came into today with concerns about its volume, which I discussed during this morning”s “Need to Know” video. Expanding volume and fresh highs suggested that might become moot. Maybe not. The gap up and probe of fresh highs is threatening to close negative, what I call a “key-reversal” setup. It”s very often re-tested, if not also exceeded on the way to sharply higher highs, but even more often that”s after a near-term pullback. Positive close today would be very helpful to try avoiding that pullback.

ENRT — Interesting action today. Closing negative today would target .80, maybe .6950, all within the context of a normal pullback. The problem is today”s probe of new highs, at this stage of the pattern, potentially being overextended.

PHOT — Following through to yesterday”s bearish 2-day pattern, closing under .586 would confirm at least a consolidation has begun, preferably only to .516 (I”ll personally have a limit buy order resting there). Bigger picture doesn”t get bearish unless .428 is broken, especially through close

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