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Chart Attack: SPX, FAS, AMZN and ACIA

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Once again, quiet markets as we have 3 days left in 2016. This is a nice upper flag type pattern that usually leads to positive resolution. You can be long vs. 2256 or 2248 and, if you are quick, perhaps add above 2273 for a move to all-time highs at 2277. We'll see if there is enough juice this week, or does it need new January 2017 flows to ignite it.

Either way, a nice tight pattern to trade verse.

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Banks have been the best sector with multiple set ups along the way. Some are alread in the FAS vs. $41. If you think we get DOW 20,000 this can probably be a grab when it clears $42.25 for a move to clear highs of $42.83. Use Goldman Sachs (GS) as an indicator.

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AMZN has been consolidating since missing last quarters earnings. This pattern is tight. With the best selling holiday product and a huge online retail season electronically, I think this wedge resolves upwards. I am long and looking to add with a high volume move above $774.70 for a quick move towards $780 then to fill the gap up to $820.

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ACIA, last years high flyer, was cut in half. Two sell signals helped us get out of the way. Now, it's tight and could see a January effect type move. It will need a high volume move above $68.30 to help trigger a day 1. I am long small and looking to add if it triggers and holds. The first target is $72 which is the 50 day.

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