Wednesday Market Wrap

{+++} For the day the SPX/DOW were -0.20%, and the NDX/NAZ were +0.30%. Bonds lost 20 ticks, Crude dropped $1.10, Gold slid $7, and the USD was higher. Short term support remains at the 1828 level and SPX 1814, with resistance at the 1841 pivot and SPX 1849.

YELP and ZHNE have been two great P&L names lately and BMRN has been acting better the last couple of days too. ISIS had a downtrend breakout today and BIIB had a big day. The biotechs clearly have gotten their mojo back and the biotech ETF (IBB) was up a solid 2.2% today.

Here were some big dollar gainers today.

Here were some big dollar losers today.

The market is still kind of in a sloppy sideways chop. I am changing some software and computers so it will take me a day or two to be able to make additions to the P&L. Just so you know, YNDX did trigger the other day at 43.65 and I am using a stop of 41. I also added FUEL as a long today at 62.40 using a stop of 58.

Have a great night and I hope to see you ll in the trading room in the morning.




Previous Post
Monday Market Wrap
Next Post
Morning Note For Friday 1/10/14

Recent Articles