Yesterday, we saw a broad based rally in all sectors of the market. The rally in the SPY occured in its range, we didn't clear any levels and that can cause concern. Ths market is still in balance and could easily head either way, the levels that I am watching in the SPY are 133.70 & 134.70 as resistance and 131.80, 130.35 & 129.70.The strongest sector yesterday was health care as reflected by XLV. The SMH sector was also strong as it tested resistance yesterday. My tactics for the haven't changed, we are still in balance mode which prompts me to book my profits into momentum and trade only my best ideas.
LONGS:
ALTR
UNH
HAL
COP
SLW
GG
BREAKOUTS:
TWC>72.50
EMC>27.40
COF<47.80(50SMA)
KO>65.90
ABT>48.80
SHORTS:
STT
WMT
NVDA
LONGS:
ALTR
UNH
HAL
COP
SLW
GG
BREAKOUTS:
TWC>72.50
EMC>27.40
COF<47.80(50SMA)
KO>65.90
ABT>48.80
SHORTS:
STT
WMT
NVDA
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