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hi everybody weekend path chat covering stocks this is Bob iino along with Mike Arnold just let me go through the list of what Mike's going to talk about I went through the entire economic calendar in our weekend path chat covering the FX markets so if you want to hear what we think is important what's expected on the economic calendar you can hear that in about the first 10 minutes of the Weekend Update in FX so I'm just going to go through the list of the stocks that Mike's going to take a look at and I'll turn it over to Mike he's going to be looking at Netflix nflx jd.com essentially one of the Amazon of China Nvidia which is a chip maker nvda log me in lgm they claim that they are a cloud services company but really they're a remote access to your computer company NX which is a building products materials company vmc which is also construction it's asphalt and concrete and the like NRG which is a power company mainly solar and wind and storage and things like that FCX which is Free Port macaran which Mike is starting to pronounce correctly so that'll be fun Amazon amzn you all know what Amazon is the essentially the emperor of the world in retail Yelp consumer social media company Yelp City Bank which is C City Bank obviously one of the mega Banks and PSX which is a rails stock Railroad and transportation let me turn it over to Mike and he'll walk you through the charts okay thank you very much Bob Netflix we're watching for The Head and Shoulders is triggered we're watching for uh full Target at 135 594 which comes in slightly higher than the 50-day exponential moving average and just under a 13713 gan level it will also partially start filling this Gap that's left behind so watched for that price action Netflix JD as we covered reached up to the gam cluster third wave projection of Elliot wave now is pulling back so where I'm expecting this to dive into the rotation Zone it it tried to Rally a bit on Friday and then close lower I would not be surprised to see it even pull back to maybe possibly this 2982 level or the 21 EMA before figuring out where it's going next Nvidia triggered on a weekly basis this double top keep in mind this is slightly lower probability because we have the 20 one EMA in the way which does in all our testing of thousands of these does lower the probability so this also could rally back up and which can give many people area for reduced risk entry now the areas will be reducing our stop is the 8870 and the first Target is 8350 our key levels for the stops are closed Beyond 11212 or 11472 log me in which triggered a double top on a weekly basis since rallied back a bit did not get to the stop levels of close Beyond 10399 or trade through 10603 if it continues lower next week first place we move our stop is the 8566 which is also coming in with the 50 we exponential moving average NX was a failed double did trigger it and then collapsed back down so now it is off the charts it is all done and stopped out so we take our loss and move on vmc triggered it re reversed on a weekly basis this much but retested this key area you'll see many doubles do that and we're going to watch it for it to turn lower next week if it does continue higher the stop levels are 13166 for a close Beyond stop or 13383 for a trade through stop on a move lower 11210 is the level we reduced our stop we shift it down and then the only profit Target on this is 10 775 NRG we're looking for this massive weekly potential double bottom has not triggered yet this week we did fall off into the rising rotation Zone and snapped back so I would not be surprised to see at least a retest of these prior highs this has to close beyond the 1832 level to trigger this for a weekly trigger FCX free Port Magnum R did not trigger yet we're watching for a close thir Below 13113 on a weekly basis I and actually for the higher probability you can get the close below the uh the 50 week exponential moving average that's what I'd be watching for also Amazon still in a in a massive uh potential double top area if it does continue higher the next price levels High 86435 and 8814 as long as it does not get through the 881-4922 that's a very key line in the Sanford that we need a close below that City group actually this we're still potentially looking for this to unfold in a wave five Elliot wave pattern however we are starting to get some pullbacks we've retested the wave three highs if this wave were to fail just pointing this out early this is a potential weekly double top not even where close to triggering but the rotation Zone would be out of the way so if all of a sudden some happening we saw City Bank collapse we keep an update on this just wanted to point that out PSX now it's turned into a sloppy potential triple bottom it's coming off our charts now anybody who's looking for lower prices you can start looking for a retest of the 7781 followed by the 7749 and 7716 those are the levels lower but this is nothing I'm going to be doing with right now so I'm taking it off my charts and that's all I'm going to be covering today I'm going to turn it back to you Bob thank you Michael there's very exciting news a new money path podcast has been released if you haven't subscribed already please check it out type in the money path podcast in your iTunes or your Google Play search bars or go to our website path trading partners.com you can download the podcast directly from our website please subscribe to that leave us a comment on these videos videos hit the like button if you're enjoying them if you find them useful and also subscribe to the YouTube channel and hit that little alert icon that pops up after you subscribe that little black Bell that'll assure you that YouTube will let you know when we have one of our very popular very exciting time sensitive videos out cheers everyone thanks for watching
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