My opinion of the market has not changed since yesterday. The bears are still firmly in control of the market. A selloff in the dollar index and a rally in commodities and riskier sectors like the emerging markets were not enough to prevent this afternoon’s selloff. These strong opens that fade throughout the day have got to start becoming disheartening to the bulls.


Today’s high in the SPY 104.37 is only .01 away from the low put in when we established the last range back on 5/25 (SPY$104.38). Prior support has now become resistance. This market is respecting technicals so know your levels.

Until we can breakout and close above SPY $104 or breakdown below Thursday lows (SPY $101ish) things will remain pretty choppy. So don’t press and try to stay cool.

The following ideas may be actionable tomorrow:

alb 38.42 reversal/support buy on 200 day MA


deck 41.57 reversal/support buy on 150 day MA

fast 47.3 reversal/support buy on 150 day MA

mcd 64.39 reversal/support buy on 200 day MA

netl 25.55 reversal/support buy on 200 day MA

pnra 70.97 reversal/support buy on 200 day MA

pxd 54.77 reversal/support buy on 150 day MA

tii 17.29 reversal/support buy on 200 day MA

trw 25.48 reversal/support buy on 200 day MA

vrsn 25.03 reversal/support buy on 200 day MA

wfmi 33.26 reversal/support buy on 200 day MA

wynn 71.44 reversal/support buy on 200 day MA

adp 39 short

bke 31 short

whr 82 short