Market Alert - MidMorning

The market is in the in between time, i.e. where it gapped lower with SP500, DJ30 touching down near the 50 day MA, then making an initial rebound.  That move has some of the well know name brand stocks rebounding and pushing NASDAQ, and particularly NASDAQ 100 positive. 

That initial recovery is currently undergoing a test, thus far a half our lateral move. If it holds and continues upside we can look at playing some of these stocks such as NFLX as they continue higher after the test of the initial rebound. That means adjusting the entries on these from the weekend report, but that is not issue as we will do that as the alert is sent. 

If we do buy, it does not mean it is a buy for weeks, but has to be considered in the market as it is. Over the weekend we said any bounce was a relief bounce until shown otherwise.  Thus, any entries are more short term.  Just want to be clear on that.

Anyway, watching how this lateral test of the initial rebound move plays out and will see if we can pick up some upside off it.

Current positions are mostly rebounding off the initial gap lower as well, so letting them work back up if they will.

SP500  -1.60, -0.06%
NASDAQ 17.80, 0.25%
DJ30 -25.96, -0.10%
SP400 -0.24%
RUTX -0.35%
SOX 0.10%
NASDQ 100 0.39%
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
______________________________________
Alert Key
http://www.investmenthouse.com/alertkey.htm

PLEASE DO NOT REPLY TO THIS EMAIL. USE THE CONTACT US PAGE ON OUR WEBSITE.

Customer Support: http://investmenthouse.com/contact_us.php