Indexes broke to a new high of this rally and also January highs on $SPX. Volume was moderate but no heavy on this breakout but price is king. $SPX closed above 200 period ma which is bullish sign. I had mentioned quite a few times here and on twitter that my gut says we will break to new highs, million dollar question is what next? Are we all clear to move higher or is it a false breakout with a bull trap, only time will tell. For now play what you got now what you expect and for now bulls are in charge. Sectorwise clearly global growth stcoks were leaders again led by steel minerals metals energy etc. Surprisinly retaliers were in leaders too while financials were clear laggards.
Position wise I sold BYD and CTXS call spread while I bought some SVNT FNSR and FAZ. I also added to my UNG and WFR position today.
For tomorrow watch AMGN, KLAC. I will also look for entry in GNW MRO and MATK if I could find one.
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About Me
- Sid
- A techy at heart who tries to keep in sync with ever changing technical and business world. A producer, architect, developer, leader, all rounder, like to do what I really love- Technology
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