Hi everyone. I added a short term swing trade (long) on AMGN this week at 235. I will sell before earnings in about a week and a half. My overall outlook on the market remains the same: bullish very near term (1-2 weeks) and bearish on all time frames after that. I think valuations are still too stretched in the FANG stocks.
SPY weekly chart below:
Since I’m bullish in the near term, I went long on AMGN this week at 235. Chart below (SL 225, Profit exit: 255 OR before earnings)
I hope you have a great week!