Monday Market Wrap

{+++} The SPX came within about five handles of all time highs today. Futures were up huge overnight and opened strong, but gave back about 10 handles from the top.

The Nasdaq did nothing today and was under pressure from AAPL which lost 15 points. AAPL has lost 57  points over the last five trading days.

Tomorrow is the CPI number and the FOMC rate decision is on Wednesday.

Today JAZZ , SPN and FENG triggered.

We are getting up to key levels again. A break above can send us much higher, but a failure to launch could be a problem too. Lets hope for the best, but be ready for the worst. On the very positive side, the big industrial type names like IBM are acting better and the financials are starting to wake up.

See you tomorrow.

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