Market view

Markets did a quite boring day with the tech sector hit the hardest - where markets got a big gap up where everything looked pretty good - then the markets started to sell off leaded by the tech sector and we got down into last 1 hour before a huge rally again into close where markets closed up around 1% for the day !

I've got some interesting charts about the NYMO and again my thesis tells me I should be bullish short term - so currently I'm still all out of short positions and I actually loaded up on lots of stocks - many of them solar stocks as they have been beaten down most.

Stocks I bought were:

- STP (Added 2.5's)
- YGE (3.18)
- SOL (1.75)
- HEV(0.1 risky play)

Still long CYCC (0.46) and YRCW 0.5's

Overall had neutral day - took profits in my EDC which I bought yesterday close and sold when markets went green on the morning with 7-8% overnight profits.

So based on the euro FXE - I think we will rally - as it looks like the euro wants higher - take a look at the bullish divergence on MACD + it hit 50% fib retracement perfect and just looks ready to move up IMO very soon.

With this I think markets could pop also - so what would the target be on SPX ? lets take a look.

SPX needs first of all to clear 1180's level if we do so next level could be 1190-1200 and then we have a trendline resistance at 1210-1215 so lets of overhead resistances. Time will tell - I'm slightly bullish right now as the euro and thesis tells me to be bullish short term.

Watch SPX 1140 to the downside - a MUST HOLD for markets - if not , could get nasty - so watch it closely.

30min and 60min indicates that bulls will be in favour today and upside very much possible.