It was a choppy session on lower than average volume. Homebuilders, financials, real estate lead the way with the B.R.I.C. etf's and some of the commodities trailing.

TLT tested the 89 level twice today and snapped back nicely each time. It was good to see that the level was respected and reinforces in my mind that this is a significant level. There was even a headline out from the government around 3pm that warned banks to guard against the risk of raising interest rates and TLT still couldn’t break the 89 level.

I will continue to watch the 89 level on TLT and 208 on AAPLas market tells. If these can hold then we are probably due for another leg up. If they fail then we are going to have to be more cautious going forward.

The following ideas maybe actionable tomorrow but the market feels extended here and I wouldn't chase them. Be sure to look for good volume, relative strength and use reasonable stops.

axp 42.25

cat 60

ge 16.5

pcu 36.5