ENPH Stock Implodes Enerphase Energy Inc 6-18-20

Trading Game Plan 6-18-20

The stock market put most day traders to sleep yesterday other than a couple of stocks such as SE and ENPH (Enerphase Energy Inc).

ENPH saw bad news and if you were day trading, it was old school momentum. You needed to be fast and decisive.

Most stocks we consider market leaders traded into inside day, my favorite trading pattern. These types of consolidations leads to larger green or red candlesticks. So be prepared for an exciting day. 

CCL stock (Carnival Cruise) reported a loss of $4.4 billion so we have sector play in the game plan today.

Jobless claims this morning as well. The number should still be over 1 million, let's see how the market reacts.

We also review six stocks breaking out to new highs that are in play today. 

One interesting tape reading situation came up today in DKNG (DraftKings). We saw double normal volume but the stock remains in a range after bullish order flow.

That's typically distribution.(Money changing hands from smart to retail)

Webinar Tonight at 4:30 PM (June 18, 2020)
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See you there!
Pete