1:00pm (EST)

The bears are working on a three-session win streak if current levels hold as they are trying to push the next wave of support.  The bulls are holding prior support levels before last week’s breakout to new highs and while we figured a back test would come, it is important the market hold prior support levels.

We are looking at a possible trade to take for tomorrow’s action but we wanted to get the midday report out and update our current trades while we continue to do some research.  We have hit it big today as one of our option trades returned 175% so we have to keep things short as we have a lot going on with our current trades.

The Dow is down double-nickels (55 points) to 15,463 while the S&P 500 is lower by 7 points to 1,690.  The Nasdaq is off 17 points to 3,648 while the Russell 2000 is declining 5 points to 1,047 with the low checking in at 1,042.

We could have a New Trade Alert later this afternoon and into the close so stay locked-and-loaded in case we take action.  Subscribers, check the Members Area for the updates.