- Yesterday's big drop had a nice reversal at the end. That momentum continued Tuesday. Netflix had one of the biggest declines yesterday based on share price with no new causing it. Alphabet is that other stock that I follow closely and traded option based on.
- Alphabet (GOOGL) Tuesday movement is similar to Friday movement. Typically Alphabet moves one direction in the first 8 minutes, then reverses direction for the next 8 minutes. Then it will continue in the first direction sometimes beyond where it initially went. Around 10:45am it reverses direction to eventually pass the initial rebound. See charts below.
- Netflix was down so big yesterday that it bounced back today. It doesn't move like Alphabet, but it does follow the movement higher especially on days like today. Initially it moved down, but then it went up, sideways for a little to be lower and then shoot up with Alphabet and other FANG stocks. When Alphabet topped out for the day around 1pm, so did Netflix.
- I expect them both to continue on a path higher on Wednesday and Thursday.
Tuesday, June 26, 2018
Tuesday Market Pop
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