• bullish watchlist 6-9-15

The market is experiencing a semi-rally today.

Nothing for the bulls to get excited about except for the fact that it isn’t falling again today, which wasn’t even the case this morning. Nonetheless, the bulls are managing to put together a fairly respectable rally today that could stall out at the 2085 area. If it can break through that price support area, then I could see a push back to 2098-2100 in the next day or two. 

None of this though, changes what has become a bearish outlook on the market for me. I am actually long on UPRO as of this morning, but don’t expect to hold it for long. This was simply a way to make a quick buck off of the rising market today. 

You also have the VIX dropping off pretty hard as well after getting back and above the declining resistance level that started back in October. But like I said, I don’t expect this rally to be sustainable over the course of this week, and suspect that this is merely a dead cat bounce for the market. 

So, here’s my bullish list of trade setups. You’ll notice that there has been quite a pruning in terms of sheer length of the list as a whole. However, if I am wrong about this market and the direction that it ultimately takes, a few names to watch in particular from the list below will be: ABBV, AMTD, EBAY, FTI, GPRO, MAS. They all have some nice setups currently working in their favor. 

Here’s the bullish list of trade setups:

bullish watchlist 6-9-15 

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