Very interesting day in the market today. We opened higher this morning on China data which indicated very strong YoY growth in exports for December. Also Euro was very strong today on ECB comments, which drove the Dollar lower. However the gap up never confirmed and we floated down to 146 level to go red for a intraday candle where BULLS showed up and took the market higher to close at highs of the day. Volume came back into the market. It had been missing last few sessions. In my opinion, a very Bullish action for the markets going into tomorrow.
Took DECK late in the day at 36.80 level. It had a late day pop on strong options activity.
Resistance - 147.16, 148.10
Support - 146.30, 146, 145.60, 144.50, 144, 143.06
Trade Ideas -
KSS - Posted this idea a few days ago in my post (KSS - Bullish Divergence) . Think its ready to make some moves.
DECK - Nice bounce of 50sma. Nice call activity to close the day. I picked up some at 36.80.
DDD - Short idea. I think its topsy here. Look for break of today's lows on entry. Target 20sma.