Baby Steps:
Technicians for one thing judge a healthy market by how many breakouts are not only occurring, but more importantly how they are acting POST breakout. We know the best ones tend to work right away and follow through, and this behavior has been non-existent as of late. Could that be changing with Tuesday’s break above a double bottom trigger just below the very round 1000 number? We will find out how it finishes the week over the next few sessions. Remember we looked at PLTR and it was able to CLOSE above its 98.27 double bottom pivot just one session but today completed a handle on that base and can be added to or initiated with a buy stop above a 99.09 trigger. CRWD has vacillated between the very round 300 and 400 numbers but has shied away from its attempted break above a double bottom trigger of 392.79. Will the third time be the charm for a legitimate breakout for NFLX? It is possible fledging breakouts will gain more confidence and take their cue from it but that remains to be seen. PRICE must confirm but Tuesday was a good start. Tuesday was a nice CLOSE above the pivot although it CLOSED off intraday highs. Lets circle back on this one at the end of this week.