Monday Market Wrap

{+++} For the day the SPX/DOW were +1.05%, and the NDX/NAZ were +0.90%. Bonds lost 11 ticks, Crude slid $1.05, Gold dropped $14, and even the USD declined.

Short term support remains at 1841 and 1828, with resistance at the 1869 and 1884.

It was definitely  a good day for the bulls and some shorts got squeezed today. One day does not a reversal make, so tomorrow will be even more important. The bulls will want to see a follow through day to the upside, but at the very least a sideways day. A move lower after today’s action would be bearish.

Today I added YELP and YOD as longs.

Please check the P&L for any updates.

See you folks in the trading room in the morning.

Joe