We had another up day on modest volume and volatility. The solars, transports and industrials lead with real estate, steel and home builders trailing. The weakness and heavy volume in the real estate names really stood out to me on the charts tonight. IYR is closing in on its 20 day MA (50.92) keep it on your platform and see what happens if we get there. My guess is it gets bought the first time around, but use more caution if it goes crashing through there.


Tomorrow is Friday and the economic calendar is light right through to the PPI # next Thursday so take it easy don’t press, just trade quality set ups.

The following ideas may be actionable tomorrow:

mbt 59

srcl 56

stx 20

tii 20

mmm 85 this is a minor spot

hoc 25.53 reversal/support buy on 200 day

I have been watching the following gold stocks for a while, AEM, ABX & GG. They are stuck between moving averages below and a breakout level above. I am putting two levels on here, the break out level and the moving average reversal/support buy level. If you see one of them testing the support level and go crashing through it like it wasn’t even there then don’t try and buy the others on support, common sense I know but we all flake out sometimes.

AEM 62 breakout 59.49 reversal/support buy on 200 day MA

ABX 42 breakout 39.22 reversal/support buy on 150 day MA

GG 41 breakout 39.01 reversal/support buy on 200 day MA