Monday Market Wrap- New Idea



For the day the SPX/DOW were +0.55%, and the NDX/NAZ were +0.60%. Bonds lost 7 ticks, Crude added 20 cents, Gold dropped $30, and the USD was lower. Medium term support rises to 1973 and 1956 , with resistance at 2019 and 2070.  Short term support is now at 1973 and 1956, with resistance at SPX 1986 and the 2019.    Tomorrow: Retail sales (est. +0.7%), the NY FED and Export/Import prices at 8:30, then Business inventories at 10am. Also at 10am: FED chair Yellen testifies before the Senate on the semi-annual report of monetary policy, plus FED counsel Alvarez testifies before the House.

Yellen will be big tomorrow, and yet again, the dovish/hawkish thermometers will be out.

The market was bullish today and gold got creamed. AKRX triggered this morning and I am adding another long tonight.

Buy TOUR at the 19.50 level


See you in the  morning.

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