SPY:The SPY held and closed above the 129.50 - 130.00 zone and held up, this confirms that the ETF is back into the range it broke out of on the 15th. My bias is bullish as long as we hold above. A choppy environment is to be expect though.
Sectors: The strongest sector yesterday was technology with the SMH being the strongest ETF in my watchlist followed by the QQQ's which is the NASDAQ ETf. The Weakest sectors yesterday were commodities with oil, gold and silver all taking a hit, my saturation shorts on gold stocks worked out nicely yesterday but unfortunately I didn't take them as they occured during lunch. A period that I don't usually trade. The financial sector ETF, the XLF formed another bullish U-Turn candle pattern yesterday which makes it two in a row and also forms a higher low. These are both bullish signs that could play out today if price goes above 16.35.
Longs: EBAY,PM,IAG
Saturation Longs CCL
Breakouts: ADSK>44.50, WDC>36.50, TJX>51.00,CHK(ID)
Saturation Shorts: JDSU, CIEN, SBUX,COP - (These saturation plays will depend on wether RIMM's earnungs affect the technology sector, If I get a higher opening I might consider shorts)
Sectors: The strongest sector yesterday was technology with the SMH being the strongest ETF in my watchlist followed by the QQQ's which is the NASDAQ ETf. The Weakest sectors yesterday were commodities with oil, gold and silver all taking a hit, my saturation shorts on gold stocks worked out nicely yesterday but unfortunately I didn't take them as they occured during lunch. A period that I don't usually trade. The financial sector ETF, the XLF formed another bullish U-Turn candle pattern yesterday which makes it two in a row and also forms a higher low. These are both bullish signs that could play out today if price goes above 16.35.
Longs: EBAY,PM,IAG
Saturation Longs CCL
Breakouts: ADSK>44.50, WDC>36.50, TJX>51.00,CHK(ID)
Saturation Shorts: JDSU, CIEN, SBUX,COP - (These saturation plays will depend on wether RIMM's earnungs affect the technology sector, If I get a higher opening I might consider shorts)
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