A new 2010 high in the SPY today but it was not confirmed by new 2010 highs in AAPL, the NASDAQ composite, iyr, iyt, smh or xlf among others. The SPY was up less than 1% but it was a nice strong trend day none the less with real estate, commodities and materials leading the way.


Bonds of all maturities were down across the board.

TLT closed on the lows of the day and much was made on tv about higher interest rates. We will have to see if the FOMC minutes at 2:00 tomorrow have any effect on the market. Remember that the last time the TLT was down here was back in October 2007 the all time high in the market.

After such a nice strong trend day I wouldn’t be surprised to see some consolidation and choppiness tomorrow, but the following ideas may be actionable. Considering the strength in the market MON 70 short could be a place to look for a support/reversal buy and also watch for failed breakouts as a place to possibly put on a short.

aa 14.82 long

intu 35 long

mmm 84.5 long

amgn 61 long

bbt 33 long

dlb 60 long

rax 20 long

mon 70 short

pot 114.11 reversal/support buy on 50 day MA

mos 55.87 reversal/support buy on 150 day MA

mtb 77.52 reversal/support buy on 50 day MA