The SPY closed inside the day before yesterday after it failed to hold above the day befores high indicating a neutral day. This was to be expected since today is the NFP release. The Euro continued to demonstrate weakness and is currently at support that was formed on December first. Should this support be taken out, the market should respond bearishly. However, we are still in a bull market in the SPY and this relative strength shouldnt be ignored especially after QE2. Gold continued to demonstrate weakness in yesterdays session and I will be looking at gold stocks as possible shorts today.
Longs:
TOL
UNH
BA
DOW
WAG
MS
COF
DIS
CIEN
BK
Breakout:
UTX
AET>42.40
Breakdowns:
KSS< 52.00
HAL<37.65
KSS<52.00
Shorts:
LRCX
MCD
KO
EBAY
ABX
KGC
GG
M
AU
SLW
I have a big list today and that indicates that theres probably going to be something to do with one side being active.
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