A downbeat reading on the manufacturing index snapped a three-day win streak in the markets today. The SP500 tested the 50 DMA and then closed right under it signaling to traders once again that it is a major resistance we would have to break. No major data being released tomorrow but looking forward to how the montly jobs report is released this Friday which can really set the momentum up for the rest of December.
DJIA - -0.46%
SP500 - -0.47%
NASDAQ - -0.27%
Like I mentioned, we are just testing the 50 DMA. If broken, we can possibly get a big move.
WATCHLIST FOR TOMORROW
BGFV - looking for break
CHTP - looking for the break
COT - nice flag pattern here, looking for break
PGTI - looking for 4.50 breakout
ZAZA - I like the volume pattern and looks like it can still break over
Good luck tomorrow!
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