$447 first support level for SPY
QQQs have $370 as initial support.
All is good in the world today. I’m thinking, BUY BUY ! The markets appetite for risk was in full force today .
Todays trade is in FCEL . I am looking to put on a broken wing butterfly.I am going to Sell to Open the 7 strike and Buy to Open the 4 put and I am going to Sell to Open the 7 call and Buy to Open the 8 call expiring Oct 15 . i should get around $1.50 credit when trade is filled . Max loss is $3 width of my put spread less premium received. Max profit is premium received if stock closed right at $7.00.
$CPRT (Copart Inc. LTP $141.40) is a global leader in online vehicle auctions. The stock returned more than 40% during last 52 weeks and was up by $1.80 on Tuesday. It recently went below 50EMA and now it is rising back breaking through 20EMA and 50EMA in the charts. With RSI, Stochastics and MACD back from oversold and now pointing higher, the stock is poised to achieve new heights. The stock is due for earnings report on Sep1 and in the meantime it could reach to the previous high of $149.07 for the time being.
On the downside, since technically it’s still below 50 EMA, the same could become an immediate resistance and the stock could fall below $136 as well with no immediate support available. Even after the earnings, a less than impressive show could cause it hammer down once again.