We will expect light trading ahead of the FOMC announcement, but will still look for opportunities to follow the market’s lead. For example, General Electric (GE) appears ready to move lower out of the Switch Hitter setup the stock left on Friday. We will look for broad market weakness to indicate the start of a move.
General Electric (GE)
Advance Auto Parts (AAP) made a high level Infield Fly move on Friday, and has me watching the stock on Monday as a potential short sale candidate.
Advance Auto Parts (AAP)
Finally, Southern Copper (PCU) is a Line Drive long-side possibility, with a move above the Friday high serving as the trigger area for a buy. I will consider the stock in light of price action in the metals and ores.
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