BA Did not break 365 last week

8 Sep 2019

I'm a third year college UCSB student, been trading and learning for a year
From the look of BA news;
(1) Bearish over weekend, 777 test fail n stop due to its cargo door
From the look of Technical;
(1) Did not break last week's high = buy momentum didn't exceed last weeks, weekly volume lower
(2) Friday closed within Thursday's range = buy momentum at a stop
From the look of correlation;
(1) SPY just broke out of the contraction range, rally before a fall is a reoccurring theme in the stock market
= With a large momentum upward movement, unless it is a breakout, what is followed is either (A) narrow range indecision move or (B) Retrace/Correction move
(2) If-Then: If SPY is opening below Friday high, then BA has another reason to fall.
= Open below signals buy momentum stopped or reversed; Since SPY is a big reflection of major trading stocks, the shift in momentum indicates shift in momentum is most of other stocks

Consumer stocks such as LK is on my watch for a gain next week(either Monday or Wednesday)
[1] People rolling over gains from last week to consumer stocks would be something to consider
[2] These stocks move on Monday and Wednesday because freq. traded stocks are not going to move much.
= (Learned from losing most trades on Monday and Wednesday SPY contracts to range-bounded moves)

Conclusion:
[1] Last week BA on Monday to Thursday had continuous gain, but low volume. = Weekly Gain paired with Low Volume usually means people weren't sure about the direction of the upward movement.
[2] Friday, people decided to take profit instead of breaking out of the flag = No Breakout and hold like AMZN
[3] Buy momentum stopped on Friday, no good news. = Looking for reversal

Please let me know the bullish perspective and what I missed, it would help me with my learning.
Oh and AMD ain't looking bright

Watchlist: BA, AMZN, SPY, AMD, LK