9:00am (EST)
It was a back-and-forth session to start the week with the bears winning the first half, the bulls the second half to get the win. The choppy trading led to minimal gains although Tech looked stronger than most sectors.
The Dow added 19 points, or 0.15%, to close at 13,112. The blue-chips traded to a low of 13,038 but held 13,000 (again) before reaching a peak of 13,140. Resistance remains at 13,200.
The S&P gained 3 points, or 0.2%, to finish at 1,417. The index traded down to 1,408 before rebounding to 1,420. A close above 1,425 would be slightly bullish and is less than 1% away while a drop below 1,400 would require more than a 1% pullback.
The Nasdaq jumped 17 points, or 0.6%, to end at 2,999.66. Tech did trip 3,000 and kissed 3,004 before slipping just below resistance. Although the index made some noise, the close just below 3,000 was a bummer and 2,975 was tested.
We got some good news after the bell last night and we are looking for one of our current trades to do well if the gains hold up into the opening bell. The stock came into the week at $9.13 and gained 44 cents, or 5%, yesterday and in extended trading last night shares closed at $10 after the company smashed earnings estimates. We would like to see a pop to $11 this morning with should get us a triple-digit return.
As we head to press, futures look like this: Dow (+32), S&P 500 (+5), Nasdaq (+11). Stay locked-and-loaded in case we pull the trigger on another new trade this morning. We have 12 stocks with calls and put options listed on our Watch List so stay ready for some action.
Subscribers, check the Members Area for the specific trade instructions and what possible trades we could be releasing after the open.