We had mediocre alerts (i.e. not our favorite stocks) going into today and most of those triggered for small daytrade pops. Nothing too exciting. It's a mixed bag and we don't feel particularly strong conviction in either side but do believe the action going forward is going to be less "easy". We have on medium position short ES_F but are not gunning it and have 2.25 point stop (1318 entry, 1320.25 which is just over today's high, is our stop), so keeping things tight. (update, scratched the trade on lack of follow through. Will get involved again if we see further cracks to the foundation.).
On the bullish side and reason we can't go all hoo hah bearish: charts of leader stocks like AAPL which look strong and still trending higher.
GS through 50 SMA again and looks good, sector picked up steam today.
OIH has no clear resistance but severe congestion in the 155-160 zone. Shares are hard to locate but if you can this looks like decent entry short. Risk defined with stop on today's high.
On the bearish side crude weak.
And the stock we like the most as our tell, FCX, back through 50SMA with full reversal today.
Mixed bag. Take a side, and keep things tight!
