That 70+ Nasdaq point loss on Friday is quickly being eaten up. Stay on the side of momentum.

WYNN closed strong near the end of trading. The trendline break and move above the 20dma should send it higher.

CCJ moved to a 60-day high with the break above the last pivot high.

NILE is holding onto support here. For those of you that enjoy bottom fishing, a close above the trendline is positive.

I went out of town Friday morning and missed all the fun. I’m really not surprised at a 70+ point for the Nasdaq. The index moved 200 points higher in the last month. Today’s volatile session brought the Nasdaq Composite back to 20 day moving average resistance, along with reistance of a 200 ma on the 5-minute chart. I expect that these swings of the last few days will mellow out post expiration now.

Stepping away from the market for a few days was refreshing, but I’m ready to get back in the turret tomorrow.