SPY: In total balance after yesterdays close, it failed to both breakout or breakdown. It is important to note that the Euro continues to rally while the SPY continues to lag behind. The SPY is also lagging behind both gold and oil which is another sign that sentiment might be shifting in US equities. The levels that I am watching in the SPY are the 134.00-132.70 as resistance and support, these levels are yesterdays high and low.
Sectors: Nothing notable to write about other than the persistant strength of the commodities and retail sectors as other sectors continue to demonstrate directionless indecision.
Longs: HD, PM, SWN, ABT, HON
Sat Longs: RCL, SUN, TSO, TGT, VLO
Breakouts: TWC>72.50, TRV>60, JDSU<18.50, TXN>35.25, JPM>48.00, DD>56.00
Volatility: (AKAM S=36.90 R=37.50) (CIEN S= 26.10 R= 26.75)
Shorts: BBY, COH
Sat Shorts: NEM
Sectors: Nothing notable to write about other than the persistant strength of the commodities and retail sectors as other sectors continue to demonstrate directionless indecision.
Longs: HD, PM, SWN, ABT, HON
Sat Longs: RCL, SUN, TSO, TGT, VLO
Breakouts: TWC>72.50, TRV>60, JDSU<18.50, TXN>35.25, JPM>48.00, DD>56.00
Volatility: (AKAM S=
Shorts: BBY, COH
Sat Shorts: NEM
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