RESISTANCE?

It appears we are bumping up against the resistance around 1115. It looks like we could move back down to the 1087 area in the next few days. We could possibly break out of this range and start another move up, but the price action over the last three days doesn't look like that will happen. If we do end up finally breaking out, there are a few stocks that I want you to keep an eye on. I like VCI, BUCY, NFLX, VPRT, RAX, SCSS, NOG, and MAC. For lower priced stocks, I like IVAN and CSUN. I know that CSUN has been moving a bit flat lately, but it looks like it could be ready to run up to that $6 area. This would be a stock trade, not an option trade (there are no options on this stock, but it costs as much as an option...$4.45) which is why I'm considering it with a flat to slightly down sloping 50 day MA. For a credit spread, I like HGSI (Jan 27 and 26 puts for the spread). If we continue to move down in the next few days, be patient and start planning your trades. If the market pulls back down to the 1087 area, we want to be ready to set up our bullish trades. The longer the markets move sideways (and don't break that 1087 support), the higher the probability for a breakout to the upside in the near future.