The U.S. market's major indices continue to levitate higher. Yet the Dow Jones Industrial Average has been unable to breakout past the 13,000 mark. Meanwhile the S&P 500 is still flirting with its 2011 highs in the 1360-1370 zone. The NASDAQ edged higher to new ten-year highs while the small cap Russell 2000 is still consolidating sideways in a trading range. The Dow Jones Transportation average continues to slip but there is a hint that the transport index could bounce soon although that probably depends on a pull back in rising oil prices.
Overall the larger trend is still up for stocks but momentum has definitely stalled. Several of our candidates have already begun to correct lower.
I have updated stop losses on: RDC.
Disclaimer: At any given time the author may have positions in any or all of any companies mentioned in the Leaps Newsletter.
--Position Summary Table--
Table lists Directional CALL or PUT/LEAPS only.
Insurance puts, if applicable, are not shown.
Red symbol/name represents a play or option position exited or closed this week.