Weak Financials Lead to Fading Market

Just as I suspected! Weak financials (especially the brokers) led the market to fade after a gap open that just couldn't go anywhere. The market's in a choppy trading range. You have to pick your spots and find the strength. That means oil (needs to consolidate a bit after such a strong gain), nat gas, commodities, and some select tech.


Look at the COV triangle. Watch for a breakout/breakdown. Right now it's really a toss up as to which one will occur. On one hand you have up days occuring on big volume and down days on shrinking volume. But, you have to still be aware that any adverse event in the broad market could really take down the entire market. It's best just to wait until the break occurs and take a position accordingly. It should be coming very soon.

HPQ's up after hours and should lead tech to a decent open tomorrow. We'll have to see if it can hold.