Bulls Holding Support

12:15pm (EST)

Futures were pointing towards a slightly lower open this morning but had improved from their overnight lows and into the opening bell. We were long-winded this morning because we have a lot of new subscribers and trading course members and we wanted to explain where the market had been and where we think it is going or could go.

The main point is that the bulls seem to holding key support levels although we expect they may get stretched. The market has been choppy but Tech is showing strength which has been a good sign.

The Dow is down 57 points to 12,048 and has traded to a low of 12,033. We are looking for 12,000 to hold thru the week. The S&P is off by 4 points to 1,303. The Nasdaq is up 3 points to 2,725.

As far as economic news, New Home Sales in January fell but Durable Goods were up. The jobless claims number was big as we got a print below 400,000.

We have some important updates for our Members Area today which is why we are going to press a little early today. We are busy with research and chart work but we are ready to close another winning option recommendation for some nice profits while we also have a NEW TRADE we are releasing.

The options we are using do not expire until August and we think they trade will at least TRIPLE from current levels. Even more intriguing is if shares can make it just a dollar higher than our triple target price, the options could return as much as 500%!

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