Good morning traders. Yesterday we saw a mark down of several of the leaders in the cloud computing area. Besides these stocks, the general market showed great resiliency consolidating the previous day’s gains. Yesterday’s action was pretty classic in terms of what to expect after a trend day, as I pointed out yesterday morning. For today I am going to be looking to be long stocks with the market is holding over SPY 116.25. If this level is able to hold we should see 117.70 within the next couple of sessions.

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117.70
116.25
115.60