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Six of the ten sectors were in negative territory, led by consumer discretionary (-0.6%), energy (-0.6%) and materials (-0.5%).
Tomorrow morning before the open, a few economic reports are scheduled to be released, including MBA Mortgage Purchase Index. (Consensus NA), Challenger Job Cuts (Consensus NA) and ADP Employment Change (Consensus 100K). ISM # and DOE Crude.
Tomorrow before the open look for the following companies to report: FDO and UNF.
I took some more profits today, and a couple of early stops on CXO and TSCO. You may find that on occasion I shoot first and ask questions later, hence the early exit, that doesn’t happen often, but I would rather be safe than sorry, we an always reenter.
Oil was weak as the dollar moved up and materials took a thumping, all the daily charts are still bullish for now. I have added one long ( CENX) and one potential short (FSLR). Please go to the P&L for entry prices and stops. Also, I have updated the P&L so please check it out.
Have a great night and I will see you tomorrow.