Europe continues to weigh on equities. Disappointing economic data out of Europe and headlines that Russia is building up troops on the eastern Ukraine border weakened the resolve of dip buyers today.
On the plus side we did see the S&P 500 index bounce from technical support at the 100-dma. The long-term trend of higher lows is still in place on the S&P 500. Aggressive traders could buy calls on the S&P 500 ETF (SPY) right now with a tight stop. Although a better entry point might be buying a dip (or a bounce) near the 1900 mark instead of 1920.
Given the lack of direction in today's session we are not adding any new candidates tonight.
A few stocks on my radar screen:
COST, VMW, BCR, and CP look like potential bullish candidates.
RTN and DRI look like potential bearish candidates.