Longs:JDSU, KLAC (47.75), HAL (33.50), NVDA (13.70), CHK (21.00 weekly support).
Breakouts: SWN (IDB R=29.50 S=29.00), GG>46.50 (HBO), MOS>55.25 (HBO), ESRX>49.30 (200 SMA & HBO), TAL (IDB R=33.20 S=32.65), UNH>53.50, CIEN>15.00.
Shorts: LULU (62.00 PSZ & resistance), DD (48.50).
Swing short: INTC
Notes:
SWN: A move below yesterdays low and a failure to remain low could result in an explosive move to the upside.
Energy seems to be saturating.
Three drives pattern in INTC, an hourly close below the PSZ would indicate a sell signal. INTC is also in one of the weak performing sectors at the moment (XLK). However, the market seems to be setting up for a bull market. This move is counter to the overall sentiment and should be treated with caution. Stops should be maintained abaove 25.80.
CHK has weekly support at 21.00
TAL There are three key housing reports that will be released this week: January homebuilder confidence on Wednesday, December housing starts on Thursday, and December existing home sales on Friday.
Key resistance in the SPY at 129.50.
IWM holding above 200 SMA.
XHB strongest - is it due to the FED's MBS purchases? Must be.
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