The market opened down slightly, but really fell apart right after the lunch hour. Things got ugly on a report that Russia is beefing up troops and armaments on the Ukraine border. SPX hit a low of 1913 and managed a close of 1920.
That big round number of 1900 hasn’t been hit yet, and maybe it wont, but today didn’t instill any confidence anywhere. The 100 day moving average (blue line) is about 1912.
The Russell has held support for three days now.
Nasdaq has held the 50 day moving average, but this is a big spot.
Dow Jones- close enough to the 200 day moving average for you?
Considering the bloodbath, I think our stocks are doing a good job of holding in there. None of the four new names from last night triggered today. I really like that bull flag set up on PCYC, so lets keep an eye on that one.
JAZZ reported a good number after the close.
The way things are going we’ll probably be up tomorrow. Get some rest and I’ll see you on the trading room in the morning.