Good day! The Dow closed down 9.44 points after another choppy day in the indices. The market began with only a slight upside move before selling came back in to continue the move into Monday's close. It took the market back into the zone of the prior morning's range. This hit at about 10:00 ET and the indices didn't take very long to round off and pivot off those lows. The rally off the support was much stronger than usual given the rapid decline into the open. It took the market back to highs and then some well before noon.

The morning levels served well to halt the move higher. The pace turned over gradually from that point onward. It started with a 2-5 minute Avalanche and over lunch all of the upside action was more gradual than the downside. This created a bearish bias into the early afternoon that really picked up as the 15:00 ET reversal period hit and the market began to drop quickly out of its long mid-day range.

The late day drop took the NASDAQ all the way back to morning lows before it found support. At that point the market was able to correct intraday and bounce into the close, but it still held the resistance from the mid-day range. That price level stalled the rally just before the close and the overall bias on the day remained indecisive with the market closing just under its opening levels.

I don't have a strong daily bias going into Wednesday, so I'll continue to relay primarily on intraday setups. I will also be much more cautious on swingtrades (trades you hold for 305 days on average) at this time since new setups just aren't going to have as much luck getting up at running at this time.

Updates: AAP from the $51.88 zone on the 4/25 hit new highs of $64.51. Trailing stop initiated for position trades. Some hit. CI triggered on 5/26 with the break of $97.55 and has highs of $107.34. Targets hit and trailing stops now initiated. GR from the $42 zone hit trailing stops. EL hit adjusted stops.  SPLS is no longer of interest. SLXP broke out on 6/15 over $18.13. It has highs of $18.50.

Economic Reports and Events
June 22: -
June 23: Initial Claims 06/18 (8:30 am), Existing Home Sales for May (10:00 am)
June 24: Durable Orders for May (8:30 am), New Home Sales for May (10:00 am)
June 27: -
June 28: Consumer Confidence for Jun (10:00 am)

Earnings Announcements of Interest
Only stocks with an average daily volume of 500K+ are listed. List may not be complete so be sure to always check your stocks' earnings dates before holding a position overnight. (A) = Earnings after the close, (B) = Earnings before the open, (?) = Earnings time not specified at the time of this writing
June 22: BBBY (A), GTK (B), KMG (?), MWD (?), WOR (B)
June 23: ATYT (?), COGN (A), DLM (?), FDO (B), FDX (?), OVTI (A), RAD (?), SLR (?), TEK (A), TIBX (?)
June 24: -
June 27: NKE (B), PAYX (A), WAG (?)
June 28: APOL (B), EMMS (B)