The Dow Jones is facing major resistance at 10315.
Economic data was very good.
Industrial production beat estimates 0.9%
Housing Start went up
Bank Of America Corp BAC went up to $15.55
Material stocks decline as investors start collecting profit since the Dow is at resistance.
Bargain hunters. I will still buy Alcoa Inc AA.
Support is at $13.60 and $13.50
Alcoa Inc should rise above $14 if Dow breaks its resistance. Watch Dow closely.
Dow support is at 10150, 10200.
Watch gaming sector as Las Vegas Sands release their earnings after the bell. Good earnings will signal an uptrend rally for gaming sector.
Stocks to watch:
Bank Of America Corp
Alcoa Inc
Las Vegas Sands
MGM Mirage
Bullish on financials and materials.
Note that this is option week.
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