Friday's Game Plan

Overnight, markets world wide rallied and this can cause the SPY to open higher possibly rally as well. The last three days in the SPY saw down days that closed near or above the midpoint of the day on above average volume. There could have been buying on those down days, after all we are still in a bull market. The levels I'd be watching are yesterdays high at 131.44 and 132.00 as resistance. To the down side we have 130.20 and 129.70 as support. In the past three days the strongest sector that held this market has been tech. I will be paying attention to the NASDAQ ETF the QQQQ this morning to identify if the sector is to lead us out of this three day sell off.

 Longs:

JNPR
CIEN
ALTR
KLAC
EMC
JPM
CVX

Breakouts:

JCP>37.20
ADM(ID)
NTAP(ID)
AXP(ID)
TXN(ID)
WFC(ID)
NEM<54.30 *

Shorts:

PCAR
WDC
BK
F
KGC
BBY
HPQ