Instead releasing official plays tonight I have listed a long and short trade set-up below for those interested. I may release these this weekend but would like to get a better sense of whether we are going higher or lower after tomorrow's employment report. Please see my Editor's note in the play updates for my strategy going into the report. Essentially, I am not confident the market will follow through in a significant way before a pullback so I suggest harnessing profits on long positions. If we do get good follow through tomorrow we are positioned to book nice profits.
Short UNP - Possible reversal bar off of the 50-day SMA from below and a prior resistance area from March, creating a possible head and shoulders pattern.
Long CMI - The stock has retaken its 20-day and 50-day SMA and closed above $70.00 resistance, which should act as support if the market follows through. CMI looks like it wants to test it recent highs.