Yesterday's action surprised many traders and investors as the weakness we witnessed for the majority of the day was met with strength in a late day rally. Technology stocks will be front and center today, as the group showed much strength as the DOW and S&P were weighed down by losses in the energy complex. BIDU, GOOG and AAPL held in all day long while the market was making new lows. Look to see if this relative strength carries over into today. V will also be on our radar as it is nearing a critical pivot point that may provide for a momentum move higher. The financials have proven difficult to trade as of late and it seems as though the composure of this sector has changed. Keep an eye on the critical levels in JPM and WFC which have a floor in place. If these floors are broken, look to short the other banks. Last but not least, the biotechs will be in play. AMGN has one of the better set ups and it seems as though money is beginning to flow into this sector.
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