As earnings fall off the calendar the post earnings depression cycle could be volatile. The Russell, S&P, Nasdaq and Dow have all reached critical resistance levels of 1,600, 2,815, 7,600 and 26,191 respectively. These represent the post crash highs of the first rebound in October. This is the line in the sand for the bears and will likely be strongly defended. All the indexes failed at these levels on Monday. Given the potential for post earnings depression and the normally weaker last half of February, the next couple weeks could be volatile.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays