morning folks. Market looking like we are going to gap up slightly today after yesterdays amazing rip. We started off with gap up yesterday and for the first time this month actually followed through into the close. The norm has often been on these gap up days to close weak. As we have been talking about for weeks now the market has been looking to washington for a bit of direction as soon as we got hints of a potential reduction in headline risk from debt deal the market started a run. By end of day we not only recaptured the 20dma but also the 50dma. Todays gap will run us right into a little bit of resistance if we can take that out our recent highs will be in our sites we also have some nice support forming underneath with sma 20,50 and some good price support.
intrestingly i found better setups when the market was falling the past week then i did today. it was slim pickings for epic setups
still holding abat, hnsn, ssn, pdc, leds
and 1/2 gsvc, 1/2 mgm, 1/2 mpel, alan partial 1/2 gbg in longterm swing port