Morning folks. Market indicating a light gap up with the SPY inching up .4% premarket. USO (oil) continuing its bounce up .7%. Strength in silver this morning also SLV up up .7%. Interesting day yesterday after testing support a few times we reversed and traded right up to the 20dma. There was a consistent bid in the market pretty much all day. Many people including myself were gearing up for another reversal when market was stalling a bit late morning instead it rested and geared up for a nice run rest of the day.
Even though the volume was a bit light you could see buyers stepping in and supporting the market there was consistent buying pretty much all day where usually the last few weeks we only see program buying or pomo come in spurts lift up stocks for 1/2 hour then the juice is gone. So there were definately some positive things we saw. Today will show us a lot. We are gapping up here right into the 20dma. Do we break over and finish green for the day or do we have yet another opening gap reversal and go back and test yesterdays lows. Follow through is always important I'm using yesterdays low as my support in the market spy 132.
Some stocks I'm watching
