| | | | | Today’s TBUZ TV
I'll be doing doing some SQQQ and TQQQ trading for my TBUZ Weekly Trade Letter members over the next 2 weeks. Not a member? Be sure to click here and get signed up!
"The only way to do great work is to love what you do." - Steve Jobs
 
Friday
- 8:30am - Sunrise Signal
- 3pm - Weekly Wrap-Up  Market Editorial - Chuck Crow Target Corporation (TGT)TGT earnings on Wednesday were not well received. The stock moved away from resistance at 103.00 and dropped down to 90.60. It was able to recover to 95.82, but would need a major change to turn around and climb up past the 103.00 May high to challenge the April high at 107.08.
Pull Backs and SupportCSCO has stayed above the May 15 low at 62.92 since it’s rally on that same day to 65.75. The lows since then have been 62.98, 63.18, 63.06, 62.97, and 62.95. The stock seems to have found support and for now, that support is holding. We are looking for this stock to stay above the May 13 high at 62.24.
SMCI is still holding above both the 41.00 area, and the 38.50 all bets off number. The low on Wednesday for SMCI was 41.23, and Thursday’s low was 41.18. The stock has been falling from its 47.80 high earlier this month, but is still above 41.00.
APA dropped below 17.00 to a Wednesday low at 16.69. On Thursday the stock opened at 16.53, and was only able to climb to 16.92. The low was down at 16.15. The stock has fallen below the all bets off level.
Observation ES futures opened this week at 5930.25. They traded up to 5993.50 and back down to Thursday’s low at 5828.75. In the broader sense though this is the penultimate Friday of the month of May. The month of May opened at 5617.50. The low for the month was 5596.00 set on May 7. The ES rallied to and through the 5644.25 open of the 2nd quarter, and then it rallied to and through the 5949.25 open of the year. On Wednesday and Thursday the ES futures dropped back below the open of the year, but the market is still trading well above the open of May. After Friday has ended, there will be four days left for the market to try and stay above the 5617.50 open of the month. If the trend turns just right, that could also mean four days left to get back above the open of the year.
News for the Week
Probabilities for the Week
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
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