Short term analysis going into Mid August. Cross between the 20 Day and 200 Day SMA should happen shortly, as well as 50 Day and 200 Day crossing shortly thereafter. Looking to fill the gap @$171.80 then possible reversal. We also have $170 Flat as resistance along with the .618 Fibonacci level at 169.99, coming from our recent swing high of $193.10 and swing low of 132.60. If not I am looking for a bounce on the 20 Day around $168.40~ for a reversal. If those two possibilities do not play out I believe we will bounce off 165 flat while the Golden Cross occurs! Will be looking for signs of reversal and confirmation to enter some Calls. May short to the 20 Day/.618 if $171.80 is broke.
-jnarzzz
-jnarzzz