The DJIA started the week off with an almost 300 pt gain while the S&P500 and NASDAQ were up well over 1%.
Leading the way were the financials with $JPM up near 3% before pulling back into the close. Despite the pull back last week, the trend for the $SPY remains firmly to the upside.
The US Dollar continued to rebound, and sits right at trend line resistance. I think its headed to the Flash Crash levels before heading higher again.
The S&P 500 looks poised to reclaim the level it began trading at last week.
Someone buying Call contracts prior to a big buyout announcement? That's what it looks like here:
A $100k trade turned into $2 million overnight.
Energy looks ready for a big move:
Crude oil at an important juncture. A 2008 like bottom? Or just taking a break before another flush lower?
$AAPL is on the cusp of breaking out. Last weeks support zone offered a great buying opportunity:
$TSLA had a big reversal to the upside after 'The Musk' tweeted mid-day. If it can break above trendline resistance the stock could see significant gains heading into the announcement. With a sizable short interest in the name, shorts may look to reduce exposure, which could spark a squeeze higher.
$SSYS like $DDD finds itself at a key level. It is make or break time. I have calls in both for a 'make'.
$GPRO continues its march higher since bottoming a few weeks ago. I will continue to trade the stock for a move back to $50 in the short term.
The market still looks to head higher. After today's big rally, there could be some consolidation before that happens.
The market continues to send signals that it wants to go higher. One of those signals is one I have been talking about during the recent market volatility. The VIX. In spite of market swings, triple digit DJIA moves, the VIX is dead. Its quiet. It doesn't care. And it continues to paint a picture with higher stock prices in it.
The DJIA is over 18k, it takes less percent to move it 100 points, but it bears noting, as this informative tweet points out, that we are getting some sizeable swings in the market......yet the VIX is quiet.
Again this points to a market that is heading higher. Last weeks four day pull back, will be like every other pull back since the lows in March 2009... just another great buy the dip opportunity.
Good night --->>>> Until the trend breaks, the market will not fall, and up will go equity prices, $AAPL and all.
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