Longs: CIEN (O.F), PCAR (O.F), TAL (O.F)
Breakouts: HAL>36.75 (HBO), X>(29.00), ALTR>41.00, TSO>25.00, CHK>22.50 (HBO), FCX>44.50 (HBO&200 SMA), ESRX (IDB R=51.80 S=51.00), COST>82.00, LULU (IDB R=62.30 S=61.30), AKAM (IDB R=31.50 S=31.00), UNH<51.50 (HBO), TRV<58.00 (HBO)
Shorts: NVDA(15.30 & 200 SMA), INTC (27.00), NEM (O.F)
Notes:
HKSE is on the verge of breaking out.
SPY has consolidated for 4 days after making 50 day highs with a head and shoulders pattern emerging from the hourly chart.
AAPL record profits at 46 billion when comparted to estimated 38, this should cause the SPY and the QQQ to gap above today.Will we get a case of buy the rumor and sell the news today? We could.
IIB & RTH and XHB are still very strong industries, with XHB on the verge of making new highs.
DX index closed at support and at the 50 SMA a close below on good volume should be good for the market (SPY-QQQ-DIA).
Economically, we have the FOMC meeting today along with pending home sales report which will affect the XHB.
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