The market opened neutral this morning and immediately set the high at 65.97 and has drifted lower in a narrow range. A low of 65.61 was set at 11:30 which looks to be the low of the range for today. My first play today was in TEVA which I found on my gap down list and was trading nicely pre-market. At the open TEVA put in a nice topping tail bar on the 1 minute chart and finally after 5 minutes, price action broke down hard under a small base that had formed. I shorted the stock at the breakdown with my stop .01 cent above the topping tail bar. Price action seemed to bottom out soon after my entry, I hung in there because I had a nice $1.21 price void below created during the pre-market price action. I was soon stopped out as TEVA rocketed upward and has remained bullish all morning. Just a really crazy move in TEVA this morning but so has been the market this week. I’m currently in UNH long on it’s first 15 minute buy setup, I’ll update this play next… Here is the chart for my play in TEVA
teva 2