To me the market felt weaker than the index’s showed. Decliners led advancers and on my watch list only 84 of 275 stocks were green, with that said the NSDAQ composite is still above the 20 day MA and the S&P bounced off the 20 day MA, on cue ,with a nice little rally in the last hour to close the day green. 1184, the 20 day MA, is now an important spot for the S&P (SPY 118.46).

Some of the commodities had a tough time today, steel, coal and crude all trailed while financials, real estate and pharma were among the leaders.

Due to this GS situation and all of the earnings this week the market seems to be pretty tentative. Breakouts by and large did not work today (PNRA,SYNA) and buying support was mixed and took a while to work.

My plan for tomorrow is going to be much the same as it was today, wait for the dust to settle form the open and try and buy selectively on support levels and MA’s. I will also have a close eye on the recent lows in the important stocks and etf’s to make sure the recent lows hold if tested (GS 155, AAPL 243ish, SPY 118.46, QQQQ 48.72 and IWM 69.63).

There are enough alerts on MA’s for tomorrow that you can well afford to let one or two pass and make sure that support buys are working. Remember no catching falling knives. Look for the stock to come into the level vertically on light volume and no news; let it penetrate the level and snap back up through it. Buy on the way back up and use the low as your stop. Only try this the first time around and if one after another are going through the level like they are not even there, stay away.

The following ideas may be actionable tomorrow:

apol 66 long

cern 90 long

driv 32 long

genz 54 long

srcl 56 long

stx 20 long

xec 65 long

bhi 47 short

aa 13.39 support/reversal but on 200 day

agu 60.05 support/reversal but on 150 day

apc 70.55 support/reversal but on 50 day

ati 50/49.47 support/reversal but on 50 day

ato 28.53 support/reversal but on 150 day

bucy 64.73 support/reversal but on 50 day

clf 61.88 support/reversal but on 50 day

cli 34.38 support/reversal but on 50 day

csiq 19.95 support/reversal but on 200 day

ctsh 50.07 support/reversal but on 50 day

ctxs 46.07 support/reversal but on 50 day

de 58.22 support/reversal but on 50 day

jbl 15.2 support/reversal but on 150 day

jcg 42 support/reversal but on 150 day

mbt 53.94 support/reversal but on 50 day

sid 18.15 support/reversal but on 50 day

wdc 37.32 support/reversal but on 200 day

wlt 85.99 support/reversal but on 50 day