The SPY is stuck in a range at the moment between 120.40 and 117.60. Unless the market breaks out of this range, price is currently in no mans land. Price has to break out and hold above either direction to set the tone for the next move. The QQQQ and DIA are both similar to the SPY as the both are stuck in their own ranges. The strongest two sectors being the RTH and SMH and the weakest being gold and commodity stocks as the USD rallied on Friday. The open will be crucial in assessing the upcoming day and how the market absorbed the news releases that took part this weakend.
Longs:
AKAM
SNDK
HON
BRCM
JNPR
SBUX
ALTR
Shorts:
ZION
CSCO
ABT
BMY
BA
MRK
ALL
PRU
Breakouts:
JCG>38.00
BBY>35.50
EBAY>31.20
INTU<44.20
SUN>40.60
AVP<28.40
AMGN<53.40
LLTC>33.30
AET<29.60
T<27.90
ADM<29.00
BHI>51.10
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