This market continues to be very bullish. Every dip to a moving average or a support zone is being bought and the SPY is just under the 2010 high. Let’s be cautious.


The AAPL 220 level proved to be a terrific tell for the market today. The stock dove briefly on the open, that level was bought aggressively and it never even came close to seeing those prices for the rest of the day. It was a great sign that pullbacks to important levels could be bought. Go through your charts and see how many stocks bounced off of a moving average. Keep that AAPL 220 level on your platform for now, it is important.

Existing home sales at 10:00 am is the only real important piece of economic data out tomorrow, but it probably won’t have much of an impact on the broader market. I will be watching the dollar index as a tell for the direction of the market especially the commodities.

I have been having some success buying reversals back up through moving averages and with breakouts as long as the stock is not extended intraday. So I am going to keep trying that until it stops working.

The following ideas maybe actionable tomorrow, just remember that when you are buying pullbacks wait for the level to be broken in a vertical fashion on light volume and then buy going back up through the alert level, never try and catch a falling knife. Use the bottom of that candle as your stop.

breakout

cat 60.5 long

jbl 18 long

mfe 42 long

sohu 56 long

anf 45 long

intu 35 long

gld 105.67 reversal buy on 150 day

apa 98.44 reversal buy on 150 day

apc 67.77 reversal buy on 50 day

atw 33.07 reversal buy on 200 day

cnq 69.05 reversal buy on 50 day

eog 88.73 reversal buy on 150 day

gdx 44.05 reversal buy on 200 day

hoc 26.48 reversal buy on 150 day

xec 56.5 reversal buy on 50 day