Earnings kicked off tonight with AA, and at least to this point the market does not seem to like it. I saw one report that AA was down over 5% in the aftermarket. Is this the beginning of the long awaited pullback, we’ll see.


I wrote about TLT 89 and AAPL 208 last week as potential market tells and I still think they are important. TLT broke 89 Friday. It Fridays low today but closed below 89 and AAPL flirted with 208 today getting as low as 208.45.

I will continue to watch these two levels and see how the market reacts especially to AAPL 208. If we go crashing through the 208 level on heavy volume things could get a little interesting out there. However if AAPL gets down to 208 on light volume and bounces or chops around the number we are probably back in buy the dips mode.

The dollar index is back below the 20 & 150 day MA and that has helped put a bid back in GDX & GLD, which are both back above their 20 & 50 day MA’s.

The market has a lot of earnings to digest coming up as well as retail sales Thursday and the CPI and Industrial Production on Friday. So be patient and don’t chase anything.

The following ideas maybe actionable tomorrow, again look for good volume relative strength and keep reasonable stops.

amx 50

cli 36

drq 59

fls 109

lstr 40

mhk 50

trw 26