Longs: AET (46.75), TMO (55.75), CELG (73.50), AKAM (37.00), RIMM (14.75), ALTR (39.00), NVLS (45.00), KLAC (48.00)
Breakouts: SLW>37.30, COP>74.00, WLP>67.00, BA>76.00, ESRX>53.00, DIS>41.85, DNDN<13.85,
Volatility: MS (R=19.50 S=19.00), PCAR (R=46.50 S=45.80), TAL (R=37.50 S=37.00)
Shorts: POT (47.50),TJX (35.25), MCD (100.75)
Notes:
TAL is due for the mother of all breakouts - 4 inside days.
GLD - GDX - SLV; were the strongest yesterday along with the XME - XOP - XLE which meant that commodities in general were strong yesterday. USO is above its pivotal $40.00. The key level in gold is 1760.
Some industries saw some strong selling yesterday (XRT - XHB - SMH - IBB). These industries were the lead the market up and are now starting to slow down while other sectors/industries come into play. XLF looks like it is set to take out resistance at 14.85.
AUD/USD key level 1.0625.
HSBC Flash PMI out of CNY, A ton of Indicators out of Europe and Existing Home Sales out of the US is on todays calendar.
Quant studies: The quant studies seem to indicate a short term (1-2 day) bias to the downside, while the long and intermedia term we remain in rally bullish mode.
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