What a difference two days, and a 50 point bounce in the SPX makes. That prior support of 1490 stopped the index from going any higher today. Support becomes resistance.
I’m not going to guess which way the market might gap in the morning. It’s been quick day trades for me. After the first couple hours, I sit on my hands.
Some I’m looking at include:
FXP – Proshares recently released this International ETF. It’s making it’s first pullback, and closed the day strong.
SGP – Lower highs and lower lows on the daily chart. The stock stalled at the 50dma.
MDG – Bounced off the 50dma. I’m still bullish on gold and silver stocks.
