The SPY traded in a very tight .45 range today. Home builders (XHB), Real Estate (URE) and brokers (IAI) were strong with the gold miners (GDX) semis (SMH) and metals & mining (XME) trailing.


The economic calendar is light this week and the market is coming up into the 2009 highs which is pretty major resistance at this point. Not to mention that there is a FOMC announcement and quadruple witching next week so be prepared for some quiet choppy action the next few days.

I have some breakout ideas for tomorrow but like this time last week I am not loving them. The market looks a little extended here and there is no catalyst to really break things out. The following levels are important and maybe good for target trades or as a place to fade the move after a failed breakout. As always look for good volume and relative strength if you are trading the breakout and use reasonable stops.

pcx 22 long

cat 60 long

genz 58 long

orcl 25 long

cern 85 long

hgsi 32 long

ilmn 39 long

sanm 17.75 long

trw 28 long

clx 62 long

mdr 26 long

cmi 61 long

cog 42 long

infy 60 long

trv 54 long

ure 7.5 long

snda 38 short

swm 42.39 short