The market would be hard pressed to perform any better than today. The Dow dropped -176 at the open before struggling back to positive territory before noon and then rallying into the close to post a 122-point gain. I have been warning that we would see some weakness soon. That came at the open and gave everyone a new buying opportunity and they bought the dip. The recovery was steady rather than frantic and suggested investors were picking their entry stocks and their entry points rather than simply rushing back into the market or frantically covering their shorts. This was nearly a perfect day. Unfortunately, the Dow did come to a dead stop at resistance at 24,000. This sill be the challenge for Friday.
Stop Loss Updates
Check the graphic below for any new stop losses in bright yellow.
We need to always be prepared for an unexpected decline.
Check the graphic below for any profit stops in green.
We need to always be prepared for a profit exit at resistance.
Current Position Changes
HD - Home Depot
The long position was entered at the open.
Full updates on all plays on Wednesday and Saturday. Only closed plays are updated on other days.
BULLISH Play Updates
No Updates to Current Positions
BEARISH Play Updates
No Current Puts