Morning folks market looking at a flat open today after yesterdays big run. WE have a .5 % bounce in GLD (GOLD) AND 1% slv (silver). OIl is looking flat this morning. Overall yesteday was a pretty good day. We were really eyeballing the spx 1331 level where the gap up yesterday landed once we held that spot we made a push nearly back to our recent highs and ended up closing at 1343ish. Overall a pretty good day..i’d say the only red flag i saw was the action seemed a bit muted. I was really searching in the morning for trades and trying not to force anything. Thats why I always believe you need to have a mix of swings and daytrades. While I was waiting to find some good setups for new positions I was busy selling off $abat for 30% plus gains $trgl for 10% plus gains $pdc 10% etc…all my overnight holds had gapped up and so i sell into the morning spike then wait for the market to settle and start to inititate some daytrades. Smallcaps there were some great breakouts but overall i didnt get teh feel that the sector was firing. When the market makes a big move I want to see the Russell2k really start smashing to the upside. I have a feeling they play catch up today often they run the day after the s&p has a big move and you can see by the runs in $heat $abat and others that risk is back on.
starting to near some resistance. ideally a couple flat days would help out immensly instead of running straight into it. Remember the market has been range bound all year and for it break will take a big push from where (news/economic)
stocks im watching