Generals will hold Q1 gains through Friday
The futures were hit on the rate announcement and the knife decline triggered sell programs
Trade the leading stocks this week
Any pullback coming into the end of the first quarter was expected to be shallow and so far that is the case.
Gaming of the futures creates intraday reversal strategies
Trading opportunities continue to be more prevalent on the over-reactions to news, as the futures are artificially gamed
The Generals will mark up 1st quarter returns
The media is working toward their monthly interest rate crescendo over the next Fed action
Trading focus this week on semiconductor divergence
The semiconductors is the only primary group that is trading at a potential reversal level with the SPX extended as it is.
The big game for this bull cycle is over
The reported economic news is totally distorted from reality, especially the jobs data
Continue to emphasize these reversal strategies
In the semis, the SMH has some significant short-term resistance so they will be one of the primary keys to any further SPX advance.
Generals chase consumer staples, which indicates their perception of this market
The Generals continue to chase the defensive issues like consumer staples and biotechs.
Today’s initial downside alert
The SPX has declined 4 days in succession, but only -1.3%.
Excellent volatility for traders in these sectors
The 1/11/06 SPX price and time zone high of 1294.90 remains intact on a closing basis
Traders win yesterday- major indexes lose
The narrow 10-day trading range for the SPX will be resolved quickly, if not the next three days.
Energy stocks and semis are trader’s focus today
The long-term intraday trend is negative by my criteria until the SPX trades and holds above…