Market did not want to go down more than 3-4% despite weak Asian markets down 20% and highly overbought levels. Whether it be because of options expiration or any other reason, it is time to be flexible again. We are back near 1,000 and a variety of trades could work in both directions. Big cap tech leaders like BIDU could continue to be strong and trade up to fill gaps from Monday.
GOOG was also upgraded today and AAPL was again strong yesterday but ran out of steam late. POT is in a choppy range building another base. GS showed some weakness early yesterday but began trading with the market again as the day went on, and continues to hold support.
Other banks are also holding their upper range. AIG provided a tremendous trade the last two days, especially yesterday, after breaking its mini downtrend. Use your Madscan filter because a lot of smaller, off the radar stocks are coming into play for good trades. If oil can go sideways and digest some of the recent move, a break above the 39-40 area in the OIH could provide another great trade. It's August, options expiration is tommorow so keep things a little lighter than usual until a trade like AIG yesterday shows its face.