For the third day in a row we had a very choppy trading session. The market seems to be testing both the bulls and bears to see who will 'give' here. The NASDAQ has found support at its 50-day moving average twice in the last three days. So it's starting look like that may be a floor and the path of least resistance is higher. I'm keeping my eyes on that January - April downtrend line, which is around 2,010 right now, as the next potential resistance on the NASDAQ.
As for trading candidates, I don't have very many on my list for today -- just 2 longs and 7 shorts. Based on that ratio alone I won't be surprised if the market rolls over but I'm not sure that the short side is the place to be with support so nearby on the NASDAQ.
