Markets opened up near the pivot highs and has dripped lower. The range on the SPY is $134.72-$135.45.
Tech is mixed.
Apple (AAPL) has danced around $500 all morning. Let's see how it reacts later in the day.
Google (GOOG) is still holding higher. It's been doing some nice work above $600. This earnings gap should be filled soon to $620.
Amazon. com (AMZN) had decent strength today. The earnings gap has now been filled, so it no longer controls the stock.
Netflix (NFLX) is showing nice downside continuation to the RedDog Reversal on February 7. It now seems like $118-119 is the next level. Cover shorts based on risk/time frame.
Salesforce.com (CRM) has had an impressive move since the $120.50 trigger buy. I would take some profits.
VMWare (VMW) is acting a bit better, it needs to get going though above $96.
Qualcomm (QCOM) is showing small relative weakness, perhaps due to the upcoming conference.
Banks hang in there.
OIH's hang in there.
Not much has changed except this market continues to build a nice upper floor. The longer we stay above $SPX 1333-1337 the better the odds of a break above 1351-1354 for a move to last years high of 1370.
*DISCLOSURES: Scott Redler is long SPY, LULU, WMT, VMW, QCOM, OIH, HAS, VXX. Short DIA, QQQ, NFLX.
