Investors appeared to pause on Monday while they plan their next moves. The rebound was on light volume although it did pickup near the close. There were no big triple digit intraday swings and the markets, with the exception of the Russell posted slow continued gains most of the day. There was a bout of profit taking at the close but it was minimal.
Investors were more than likely nibbling at some longs but still cautious given the volatility over the last two weeks. We need to see the Dow move over its 50-day average at 25,111 for confirmation the correction is over.
Starting in February, new positions are only added on Wednesday and Saturday except in special circumstances.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays