Almost the entire market went up yesterday after taking out key resistance levels. Today ill be looking for the SPY to hold above the key 115 level. If we open lower ill be looking for a test of the 115 level if we continue going down, yesterday low will be my next target. If we open higher ill be waiting for price to hold its new level at and take out its opening range. The market is bullish with alot of stocks in the list being either strong or are about to break out.
Longs:
JNPR: A long with room to go, next IPT on the weekly charts is at 34.90.
SUN: Broke out of its range yesterday and closed right back at where it broke out from. If it holds today then SUN is an A long.
TXN: A long with room to go IPT at 29.30
HON: A long that took out a key resistance level yesterday and has alot of room to go. IPT at 46.
HAL: Another A long with room to go. IPT at 35.25.
COP: A long with room to go. 60.50 being the next IPT
TWC: A long with room to go. IPT at 57.20
Breakouts:
NTAP: A long which is forming a bullish flag on the daily. If the 51.30 level gets taken out theres alot of room for NTAP.
DD: A long that has also been forming a bullish flag on the daily. 45.85 is the level to watch.XLB was also strong yesterday and that demonstrates DD strength.
CVX: At a key resistance level at 83.40 if it takes it out then theres alot of room to the upside.
AU: A gold stock that is at key resistance at the moment. 47.50 being the line in the sand.
Shorts:
ADBE: A short that didnt bounce yesterday with the rest of the market. If the market turns around today ADBE should be considered.
AXP: Climatic action yesterday after 68.4 million shares were traded. Still an A short but I would not trade this stock unless that market is showing obvious weakness.
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