Wednesday Market Wrap-Two Names

{+++} For the day the SPX/DOW were -0.65%, and the NDX/NAZ were -0.40%. Bonds gained 3 ticks, Crude added 10 cents, Gold rose $13, and the USD was lower. Medium term support remains at 1680 and 1628, with resistance at 1699 and 1762. Tomorrow: weekly Jobless claims, the CPI and the NY FED at 8:30. Then Industrial production (est. +1.0%) at 9:15, followed by the Philly FED and NAHB housing at 10:00.

Short term support remains at 1680 and SPX 1658-1667, with resistance at 1699 pivot and SPX 1717.

S&P futures got hit about 4-5 handles after the market closed so S&P futures right now are under 1680. SPY is down 40 cents from the close at 168.33. The close was 168.74.

This is a tough spot to really do anything, that will probably change soon.

Some pullback names that I’m starting to look at are : AMD, IMMU, GILD

The P&L has been updated with two new names. HLF and LGF

See you in the morning.

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