SPY needs to retake $454 for next leg up.
QQQs need $385 to negate possible gravestone doji from last week.
Todays Bullish trade i am looking at is on PLUG . If the stock is around $26.00 I will be STO the 22.5 put and will BTO the 17.50 put. I should pocket around .50 cent credit which will give me a 10% return on my margin . My risk is approx. 450.00 The Stochastics and MACD are all giving us the positive momentum that I am looking for.
Equinix, Inc. ($EQIX LTP $882.83) is the world’s largest IBX data center & colocation provider, offering the fastest application performance, lowest latency routes worldwide and a digital ecosystem for financial, content or rich-media, enterprise, and cloud networks. Recently the company acquired two new data centers in India as well. In the 2nd Quarter their revenue grew 12.8% YoY. On the charts, technically the stock overcame the long time resistance of $840, after being pushed down that level for the last 3 months. Since, Wednesday, the stock has achieved new heights and there could be more within reach. The recent surge in demand for data and storage is not going to en dayone and with some publicity and management, it could be in the big leagues.
On the other hand, fundamentally the stock is highly overvalued and the investors could look into some profit booking when the market opens after the long weekend. The next support levels are at $859 and $843.76 in the short term.