We finaly had our broadbased move yesterday after the market took out key levels and held. XLF finaly broke out yesterday, and it did so on above average volume! XLK also gapped up and held convinsigly and XLE had a bullish fuel candle day on above average volume. I am only looking to the long side today and I'll be looking to trade my plan.
Longs:
M: Finaly took its 25.25 level with above average volume. RTH also has a strong day, I expect follow through today.
AU: A long on this gold stock that had a strong up day yesterday as it followed the strong gold sector and GDX.
SLB: Took out resistance at 74:00 without looking back on a bullish fuel candle on above average volume. My play in XLE.
ALTR : A long coming into the day with another strong day yesterday. Strong stock in the SMH sector.
USB: A long after a massive breakout of 24.50 which had been resistance since May. The stock followed the strong XLF sector.
DOW: A long in this stock that followed the XLB sector, its also another stock that finaly took out its pre flash crash highs.
COST: A long with room to go after taking out its key 65.40 level.
HON: A long that broke out of its key resistance level on above average volume.
Breakouts:
VLO > 19.00
AXP> 44.00
HD> 32.10
Shorts:
ABT: A sell short that despite the broad based rally, ABT still declined on above average volume. Weak stock that demonstrated relative weakness.
AMGN < 55.40
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