Markets pulled back today and tested their breakout level on low volume and ended day lower with heavy volume buying coming into close. I had posted this scenario yesterday and it acted as I had expected. What next? Was it the first bear sighting or just a kiss of brerakout and higher? If last minute buying was any clue I think we may go higher to test the upside on SPY at 95.37 and if we clear that than I think next higher leg may get a green signal. But atleast a test of 95.37 is likely imho.
Sector side the winners of last few days were the biggest losers today oil/energy/materials etc while financials and reits held pretty well today.
Regarding my portfolio I sold AHD for 40% gain in a day and I bought some MATK XOM and CYPB which I posted on twitter. Also sold my SPY puts from yesterday. Will try to post a watch list for tomorrow on twitter.
Follow me on twitter for real time trade updates.
www.twitter.com/sidshar
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