VLO ran up into the range I mentioned topping recently around 53.7 and dropping back down in what looks like a 5 wave. This brings into question whether it will stay below 55, so this downside play is on hold until a proper turn in momentum is seen.
Cisco did come down to 22.5 and is looking solid. It may be entering a 3rd of a 3rd elliott wave which would mean rapid movement up to 27 and eventually 30. There is still a low chance of a quick drop down to 22 but that would be a tremendous buying opportunity if it was rapid because that level has significant support.
BIDU and Facebook still have some downward momentum but look to be joining in the coming rally with short term targets of 165-170 and 64-66 respectively.
I am not a professional trade at your own risk.
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