Signs of weakness in the market today but this seems to be healthy pullback so far. No signs of aggressive selling or panic. SPY support 155.20 held nicely. I still feel this pullback is very temporary and we may see new highs on SPY soon. That said, this Friday is quadruple witching day, so we should see far more activity in the market and the action is little hard to predict. I'm very short term focused for now (which I have been for over couple weeks now), just swing trading for 1-2 days and day trading for most part. I'm watching the ascending wedge on SPY on 30min chart. If we break lower, we should see 152.90 gapfill, which is also a nice support area.
Here are some charts and levels to watch --
Resistance - 156.70
Support - 155.20, 154.65, 153.25, 152.86, 151.40, 150.45, 149.60, 149, 148.42, 147.25, 146.30, 146, 145.60, 144.50, 144, 143.06
Holdings
Long - ARNA, VXX (23.70), 1/2 BBRY (13.15), , MCP (6.01), CLF (24.50), MELI (90.10), AAPL 1/2 at 428.80
Short -
Added - FSLR 27.08
Closed - NFLX covered at 181.40 (flat), MBI (at 12.55 +0.10), 1//2 BBRY at 15.10 (~+2), AAPL 1/2 at 432.
Day traded SPWR (+0.10), Z (flat)
Trade Ideas -
FSLR over 27.90 has a gap fill.
SPWR nice bull flag
BRKR nice bull flag
SNTS wants to go higher. Nice volume today.
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