The intraday price swings this week have been swift and decisive, leaving both the S&P 500 and the NASDAQ with potential bear flag setups that suggest another break lower is on the horizon. On the flip side, this week's late afternoon buying favors bulls and argues this rebound rally is not over just yet.
If we do break lower, the 200 MA will be the clear downside target and support level to watch for. With a break higher, expect big name stocks like Apple (AAPL), Visa (V), Expedia (EXPE) to outperform.
There will be no post tomorrow as it is Friday and Monday is Memorial day. Enjoy the extra day off, have a fantastic weekend, and I will see you back here on Tuesday!
