Folks I am neutral here on the markets. I see alot of reasons why we can go both ways. Monday after the close APPLE reports and if they dive after earnings expect tech to get continued selling following Google and Microsoft. I think Tech will be the next selling group in the market. Right now my thinking is we will have resistance on the DOW around 11700/11800 area and S&P should find resistance just little higher @ 1275/1290 area, the upper range would make a great poke at the short side with tight stop.
Why am I neutral? The levels noted above: if the bulls take them higher and can confirm volume we will no doubt be in a trend to give one more push higher. I extremely doubt we get to the 12300 area but you never know. Oil also looks like $122 which is the last swing low is a magnet and a breach of that would lead us to the $117 area, which would be worth 3-400 on the DOW in my opinion.
Have a great weekend folks and let me TONS of money next week!!!
I will be giving out 2 stocks next week maybe wednesday or thursday for swing plays so stay tuned.
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