It's been a consolidation day for the $SPX thus far as it lingers around the ever so important 930 level. A break below this level on considerably bearish volume would be the only thing that would make me nervous:
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$SPX 30 Day, 60 Minue
The DVOL to UVOL ratio has been ranging from 1 to 3 throughout the trading day with the bears in the lead, however, with the extremely low volume printing for the bears, "they go nuthin." The VIX is weak today, while the $TRIN spiked early this morning but to no avail as it has continued to decline since.
Quick tickers that I like from this morning's action are as followed in chart form:
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BGG 1 Year, Daily
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KGC 1 Year, Daily
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CCC 9 Month, Daily
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SPWRA 9 Month, Daily
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SD 9 Month, Daily
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CENX 6 Month, Daily
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CDE 9 Month, Daily
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DRYS 6 Month, Daily
That's all for now. To give all of you a heads up, I MAY be purchasing some GOOG at the close in order to make some quick cash... I think everyone and their mother knows that GOOG has the operational trends to beat earnings - it just depends on how badly they are beaten. Have a good afternoon and a good rest of the trading day all!
ZM
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