DOW indecision.

This is another day of indecision. The DOW made another spinning top today.

The market opened lower today as traders tried to spark a sell off. However, investors are not keen to sell their shares at this level.

In the afternoon trading session, Traders once again shorted the market, and this time they sparked off a sell off. The DOW went negative for a slight moment, and it started climbing again, most probably due to short covering by the traders.

Some Investors have sold their positions today, while others are still clinging on to theirs. Some traders still think that the market is overpriced, and they are hoping for a sell off.

Meanwhile, contrarians are accumulating shares for the next rally. There is definitely a strong buying pressure, as the chart was supposed to be bearish, yet the stocks’ prices rose today. Today spinning top indicates that there is a significant buying activity taking place at 10550, though investors are not keen to buy at 10600.

Tomorrow, Commodities will tell us whether the global recovery is still in play.

Today, Aluminum is the only commodity that rose as its stock levels are decreasing, and cancelled warrants are increasing. This signals a strong demand for this commodity at the current low price.

Tomorrow, we will watch whether Aluminum is able to breakout above $1/lb. This would be interesting for companies like Alcoa Inc and CENX. When Aluminum was trading at $1 in late December, Alcoa Inc rallied to $17. At $17, Alcoa will be trading at 14X forward PE which is what Caterpillar and Dupont are getting now. These companies are correlated with Alcoa Inc.

Citigroup $C made an impressive move today. The stock rose 7.3% on news that the US is able to start selling their shares. This news excited hedgefunds which believe that Citigroup would do well without government’s involvement. I would start selling my Citigroup shares at this point. The next sell level is $4.3.

APPLE AAPL hit my target of $225. I have sold off my position in APPLE stock and will be interested in it when it goes back to the $200 level.

Las Vegas Sands Corp seems to be retracing after hitting its peak at $19.30. I sold off half my holdings at $19.2 and I will be looking for a re entry at $18.

WYNN RESORTS is attractive at $65. It should trade in the new range of $65 - $70.