The dollar index was strong today and is now well within striking distance of the 200 day MA (78.64). I have got to believe that this is going to get a lot of attention not only from traders but from the talking heads as well. It’s probably a sale their on the first try.


Yesterday I wrote “the iwm, mdy, qqqq, rsp & spy look like they want to break out and take another leg up.” They all held onto their 20 day MA’s today but were definitely showing so weakness. AAPL once again told the tale of the market. Right out the gate he tried to put in new all time highs (215.60) but didn’t have what it took and rolled down toward the20 day. Not enough to breakout but buy the dip around the moving average, the trend continues.

GS reports tomorrow before the open and should help set the tone for the markets and let us see if this trend continues. A few of the key levels to watch in the market are the following.

AAPL 215.60/209

SPY 115.15/113

QQQQ 46.64/44.79

GS 178/159 I know this is a huge range but he’s is capable of testing one of those levels tomorrow. 179 is the recent highs and 159 is the 200 day MA.

The following idea maybe actionable tomorrow so again be extra cautious because there are a number a significant earnings and economic reports out. As always look for good volume, relative strength/weakness and use reasonable stops.

amgn 58

intu 32

lstr 40

ntes 36   short

sbux 24

apa 109

nwbi 11.5

amsc 39.43  short

ir long no clear #

pvtb long no clear #

rimm 63   short

rmd long no clear #