SNX Swing Idea
I like SNX as a post-earnings momentum play as long as the overall markets continue trending up. This one seems to trade pretty much in line with SPX on a relative basis (Price Relative plot), and demand is pretty high following the earnings announcement a few days ago (RSI plot).
The price chart has been trading above the 200-day moving average (indication of an up-trend) and is looking to test all-time highs. I would expect this to take some time to develop.
The price chart has been trading above the 200-day moving average (indication of an up-trend) and is looking to test all-time highs. I would expect this to take some time to develop.
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