After a shortened week due to the Labor Day holiday we are back with a full 5 days of trading. The S&P 500 (SPX) finished the week flat -0.36%. The week ahead should bring in more volume and some volatility due to the major news events, most notably Hurricane Irma. The one chart that is worth keeping an eye on, if not buying immediately, is Home Depot (HD). The stock has been climbing since Hurricane Harvey and has been making it’s way out of the channel and up to a double top with an opportunity to breakout. There isn’t a divergence in it, but I’m bullish for sure. Also worth a look at Netflix (NFLX), Alibaba (BABA), and Advanced Micro Devices (AMD).
All of the below charts are bullish except for one, Snapchat, Inc (SNAP). I did a more in depth chart review on SNAP and you can click through the chart to see it. Please contact me on Twitter or StockTwits (@jbzstocks on both) if you have any questions or comments.
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