Stock picks: DMND HL NVDA PWER ANR
Looks like some signs of profit taking from the charts of Gold, Silver, Crude and EUR/USD
Not much to say besides to admission that bullish sentiment was strong. Nothing could refrain market participants from buying. Only a wave of profit taking could send markets back from the high, however I don't know when.
SPY daily: The cap may be the the bearish resistance line 5/2/11-7/7/11, then the upper line of the rising channel.
SPY 5min S&R boxes: [129.57 - 130.08] & [131.06 - 131.34].
Trading setup for 1/19/2012
I would have made lots of money if I had been patience enough with the long side.
Is it time to look beyond the one day or two day trade? I don't have the answer yet right now!
At this high level of the market may be a few better chances are ahead?
Anyway to buy some selected stocks is a not bad idea.