- Uber just beat Facebook's venture-backed company record at over $50 billion.
- Exxon (52% drop in profit vs. Q2 2014) report worst quarterly result of current decade.
- Expedia Inc. revenue grew 11% Q2 2015 vs Q2 2014 to 1.66 billion.
At this time it does not look like there are any good risk/reward opportunities to go either long or short on the weekly time frame. Though upon closer inspection, you could argue going short with a stop at the 20 DMA (day moving average) of 17800 is a market play. The fact that it is still trading below the 20 and 50 DMA is a bearish sign.
This is a stronger chart than the DJIA and if you wanted to pick stocks that will go up you had a better chance with stocks in the SPX than in DJIA this past week.
My biggest mistake was selling SBUX two year ago as it has what looks like at least doubled in value. In any event, this chart is almost as pure as it comes - a beautiful uptrend following the 20DMA. SBUX recently broke away from that. While I wouldn't be surprised to see it take off, I see a better entry point when it comes back or if it comes back to the 20DMA.