Monday's Game Plan

On friday the market held above the key levels it broke out from, at first sight this would indicate that the market has accepted prices above resistance however, volume was low on the day the market held above the key level and whether prices remain above 122.00 in the SPY remains to be seen. That being said, the financials and its ETF the XLF were the strongest sector on Friday, that is positive for this market as the market usually follows the financials. XLK along with the QQQQ's on the other hand had an inside day on Friday and that might have curbed the bullish momentum a little bit. I remain bullish till proven otherwise.

Longs:

WFC: Finaly cleared its key levels and breezed passed its 200 SMA with ease. If prices hold above 29.50 then thats exceptionally strong for WFC.

BK: A long that cleared some key levels and took out its 200 SMA with ease on Friday, this stock also followed WFC footsteps and the XLF in general.

USB: A long with room to go after doing the same as BK and WFC. IPT at 27.00

ALTR: A long that is exceptionally strong in the XLK sector.

TXN: A long which and another very strong sector from the XLK sector.

XOM: A long that as long as it holds convinsingly above 70.00 has alot of room to go. XLE.

HON: Held up really well above its 49.00 key level, the volume was also very impressive on the breakout even though the candle is small. XLI.

TRV: A long on this XLF stock that also held well above its key levels, this stock has also been one of the strongest stocks in the sector.



Breakouts:

NUE > 40.90

NEM> 62.00

LLTC>33.00

Shorts:

MRK: A sell short after clearing some significant levels, 36.00 to be precise.

HGSI: A sell short that reacted pretty weak on Friday as this it sold of hard.