Casino stocks are rallying again today. WYNN has touched its strong resistance level of $70. I am collecting some profits here at $70.
LVS resistance at $19.20 too. I am taking some profit here as well.
Alcoa Inc $AA is still performing badly. I am watching for a breakout of the $13.74 region. Then I will add more position there. Break out target is still $15.30. No revision.
Bank Of America Corp $BAC is looking strong. Financials stocks are about to rally. I will be watching this as well.
The DOW must break its 10700 resistance in order to sustain another year of rally. Hence, TRADERS will be watching this thursday’s unemployment figure very closely. I believe, the break out to new high will happen on Thursday should the unemployment claims be less than 450k.
The S&P 500 is facing a strong resistance as well as traders wonder whether to break it, or form the death formation of a double top.
Today’s bullish action shows that INVESTORS are unwilling to sell at low prices. This price that we are seeing now is low.
Alcoa Inc should be in our radars now. This stock will break out very soon. It is the last stock to rally.
Note that ALUMINUM prices have soared back to $1 region.
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