Thursday Market Wrap

For the day the SPX/DOW were +1.70%, and the NDX/NAZ were +2.00%. Bonds gained 18 ticks, Crude lost $1.20, Gold rose $12, and the USD was lower. Medium term support jumps back up to the 1956 and 1929 pivots, with resistance at the 1973 and 2019 pivots. Tomorrow: weekly Jobless claims at 8:30, then Wholesale inventories at 10am.

The market opened flat today, bounced around in the first hour of trading, then made a lower low at SPX 1925. After that the market had a rally to SPX 1937, pulled back, and then took off to the upside

I added longs to the P&L today.

BIIB  318


This market is bizarre and it hinges on THE FED. Aunt Bea was dovish today and the market roared. I added longs today because I think we go higher.


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