Morning folks. Looks like a slight gap up for the market with SPY up .27% premarket. GLD, SLV, USO all getting some action this morning on the drop of the dollar. We are getting some decent pressure on the dollar this morning ( UUP ) which is giving the market and the commodities a slight uptick this morning. Im actually a bit surprised we dont see more action premarket on this drop. Its still early though. Yesterday was a typical day…we tick tocked around when the dollar was swinging up and down, then we had a nice pomo pump come in at some point…then we faded off end of the day attempting to finish red. Overall pretty easy to manage as long as you know where the headwinds and tailwinds are right now. Headwinds: we are at strong resistance, we have had a few updays now to relieve the oversold, conditions, the u.s. dollar going up. Tailwinds: pomo, program buyers coming in and supporting market at obvious levels, month end window dressing/holiday happiness , u.s dollar dipping.
Areas of support im watching wednesdays low spy 131.5
Areas of resistance spy 20dma which is about 134
Some stocks im watching
im still hlding positions in $rxii $drl $usat $cigx $lee $glch $mcz