Longs: KSS (Wedge > 47.75)
Breakouts: JDSU>12.35 (HBO), ETN> 43.00, EBAY>31.00, ALTR>37.50, XOM>74.50, KO>69.75
Shorts: AKAM (22.00 & 20SMA), CHK (32.00), QCOM (51.50), KLAC (37.00), UAL (19.00), EBAY (31.00), DPS (38.00), HON (47.50),
Notes:
KO
The market yesterday went up on below average volume to do the weather concerns in the USA, today we have imporant news releases coming out as well with the FOMC meeting being the most important. At this stage, the market is at crossroads and could head in either direction, the market is also poised to open lower today which would nullify my saturation shorts. Should the market open lower, yesterdays high will be me key reference point for my shorts, an initial failure to take out the highs after a push higher from the open would deem my saturation shorts valid. However, should the market head higher and take out yesterdays highs, that would probably trigger my breakouts trades. Should these breakout trades fail, my shorts would come back into play again through the red dog reversal.
EUR/USD down.
International markets are mixed.
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