Fridays Game Plan

Yesterday we had another choppy day where the markets grinded up all day long after an early sell off. This slow rise is beginning to feel like there’s some distribution up there, but that’s a totally different story that I wont get into. Clearly the SPY is in an hourly range for four days now, the levels to watch are 132.64 - 131.10. A close below any of these two levels may indicate the direction for the following days. The main thing to take from yesterday was the strength from the technology and oil sectors. It seems that this market is rotating daily, each day we get a different sector that lifts the market and keeps it at those levels. This could be both bearish or bullish reflecting the uncertainty in the markets at these levels.

Longs:

ALTR
EBAY
JNPR
NOV
JDSU
HAL
DOW
COF
DD
XOM
IAG
SLB

Breakouts:

VLO
INTU
AXP
TJX>50.00
WFC (ID)
BA>72.95

Shorts:

AMGN
CVS
CSCO