Stocks so far today have been up and down and not showing a clear sense of direction here. That may change going into the afternoon or in the days ahead.
But I think for now, it has to be respected, the reversal in price action on Friday and where it took place at – on the 50-day moving average.
Crude is being weighed down hard today after being up nicely in overnight price action and gold and silver are also taking a hit of their own.
Below you have my list of stocks that I am following and plan to add a few of the names from the list if the market continues to bounce off of Friday’s lows.
My expectations on the bounce is not overly great. I think you have to take the profits as you get them and move on to a new trade. Ultimately I think any bounce the market offers will eventually get sold. So aggressively taking profits is key here.
Here’s the bullish watch-list:
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