Market Update. Stocks to watch

Financials held up really well today. BAC retraced to $15.8 as expected.

Materials slide. Alcoa Inc AA has a technical break down as a result. The triangle pattern is gone. However, it is still holding its $13 support well. Closing strongly at $13.20 while the DOW slid at the last moment.
Century Aluminum CENX earnings was disastrous sending the stock down by 10% today. Will be watching that stock for support and buy to invest.

Retail unexpectedly held well too. Macys M went up 1% despite the poor consumer confidence index. Walmart WMT traded sideways.

DOW stocks that were badly hit were Boeing BA, Caterpillar CAT, Alcoa Inc AA. Most of these were the industrials stocks. It seems that hedgefunds taking advantage of the poor sentiment to scoop up financials sector.

Casinos stocks took a beating too. Most of them slide 5%.

Watch to buy
Alcoa Inc AA
Bank Of America Corp BAC
Century Aluminum CENX
JPMorgan JPM
Wells Fargo WFC

These stocks have tested their support today.

Tomorrow, we are expecting housing sales, and Bernanke testimony. Expect continued volatility as traders look for signs of the next bullish rally.

DOW is resting on support. There has been a trading range of 10300 to 10500 from November to Decemberr, this should continue on.

This is the DOW daily chart. The circled trading zone was the November to December trading zone.

SENTIMENT: VERY BULLISH