Not a whole lot to say about Thursday. Small loses didn’t erode prior gains but the tight action offers swing traders the best chance for gain; trading the narrow range coil offers an attractive risk:reward. Long-term traders need to wait for an oversold condition before building their positions.
The is at channel resistance suggesting shorts have the edge. Stops go around 2,560.
The is caught in the middle ground of its rising channel. Again, swing trade for a target of upper/lower range of the same channel.
The continued to drift off highs with the 20-day MA the first downward target and a chance for buyers waiting to buy the pullback.
The is also playing for a bounce which is bad news for the NASDAQ index and a key top could be just weeks away.
Watch for reactions from the tight coiling action of recent days. There isn’t a whole lot of room for a move without consequence, so the next tradable leg may only be 1 or 2 days away.