SPY: Currently in no mans land, right in the middle of no where. Price on Friday closed in the middle of the previous range that it broke out from on a doji candle that reflected indecision. Main S/R levels to watch would be Friday's high and low of 131.87-130.89, should price breach any of these two levels we could see a momentum move. Assessing premarket developments prior to the open will be key in assessing the day ahead as the picture isn't clear at the moment.
Sectors: Like the SPY most sectors are all over the place, the only sector reflecting something is the energy sector with the XLE on the verge of making a 20 day breakout. Gold is currently giving mixed signals along with the financial and tech sector which makes this market a hard read.
Longs: WDC, SUN, AXP
Saturation Longs: IAG
Breakouts: VLO> 30.50, TSO>27.00, WLP>69.50, DPS>38.25, CCL(ID), ADSK(ID), EMC>27.50, COF>53.00
Shorts: WAG
Saturation Shorts: ALTR, COF
Sectors: Like the SPY most sectors are all over the place, the only sector reflecting something is the energy sector with the XLE on the verge of making a 20 day breakout. Gold is currently giving mixed signals along with the financial and tech sector which makes this market a hard read.
Longs: WDC, SUN, AXP
Saturation Longs: IAG
Breakouts: VLO> 30.50, TSO>27.00, WLP>69.50, DPS>38.25, CCL(ID), ADSK(ID), EMC>27.50, COF>53.00
Shorts: WAG
Saturation Shorts: ALTR, COF
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