Mondays Game Plan

On Friday, the SPY opened higher and sold off. The levels in the SPY that I will watch are 128.85 - 129.50 to act as resistance and 125.50 - 126.00 as support. My bias is remains bearish after prices closed below 129.50 and will remain so until the level is taken out. The weakest sector on Friday was the energy and oil sectors along with utilities. The strongest was silver. It is important to note that the IWM ETF closed back inside range for the past 2 months after it failed to hold below it with the rest of the market. If it continues to hold above then I expect to see strength in todays market as the IWM has usually leds the SPY.

Longs:

SWN

Breakouts:

SLW>40.70
DIS<40.45
LOW(ID)
XOM<79.00
SUN>44.50

Shorts:

HPQ
AET
PCAR
RTN<49.50
JNPR
LVS
CIEN