The jobs number came out Friday very positive and the dollar soared. Money rotated out of commodities into the banks and not it is time to reevaluate things. The S & P tried to break out three times in recent weeks, and many of the stocks that provided the best long trades also yielded the best short trades. There has been no traction to the upside so now it is time to take a step back. The upper range is established very firmly so take it easy until we get some sort of resolution. Recent leader AMZN was a home-fun short Friday. AAPL provided a good measured short also. This morning simply look for where the money rotates in, and look for quick money trades until the market shows its hand for its next significant move.
Join the Discussion