Evening folks! Flat week in the markets last week as we are stuck in between a major level of support & a major level of resistnce. Till this box that we are in resolves itself higher or lower the choppy trading will most likely continue. Besides semi’s , housing , china there werent too many sectors that had any strength. Overall just a lot of chopping around! good thing is these things never last too long the market soon enough will make a decision on where it wants to go and give us a clearer picture. In the meantime know your levels on the indices and keep a lot of powder dry so when we do get a serious move you can go full force. If your daytrading keep things tight as it seems to be a scalpers market. Where the real action has been is in the earnings plays which is what i have been trading a majority of the time the last week or so. If your swingtrading there isnt much to do yet except build great watchlists as there will be a time soon where the market shows it hand. The stocks that are holding up here while the market has been dipping could be the next leaders when the price action gets better.
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