MomentumOptionsTrading.com Midday Update for 12/27/2013
Bulls Take a Break/ Profit Alert
The bulls made a charge at the open but the action has faded as we head into the final hour of trading. Tech has been weak for much pf the session but some of the other indexes are trying to hold positive territory as the bears try to get a split. The bulls have the weekly lead and are still on track to trigger our yearend fluff targets as we head into the final two days of trading next week.
The Dow is currently up 4 points to 16,484 while the S&P 500 is higher by a fifth of a point and is holding at 1,842. The Nasdaq is down 9 points to 4,157 and the Russell 2000 is off 3 points to 1,159. The S&P 500 Volatility Index ($VIX, 12.57, up 0.24) has stayed relaxed but is at session highs.
We have some last minute updates to our current trades, including a Profit Alert on another triple-digit winner, so let’s go see where things are at. We will be back Sunday night with the Weekly Wrap and on Monday morning with the Daily. (Continued….)