SAME OLD SAME OLD

Markets are trading higher after a flat open on the heels of some bad guidance from FDX which is dragging the trannies down. No way FDX would numbers have any meaning for the overall economy according to the markets.

Anyhow, if you have read anything about how I trade, and wanted to implement it, today was a perfect sample. The DJIA traded down to the pivot at the 12,540 level, I BOUGHT, and have since sold some at the 12,573 area and still have some for hopefully a further reach to the resistance area of 12,600.

The trade had almost a perfect set up with a move back to the daily pivot, strong internals, strong financials/brokers and strong semis and NAZ leading the indexes.

I am looking to reload on any pullbacks as it looks like the markets want to go higher despite crummy action in GOOG and AAPL. GS is up $3 so the GS over GOOG trade continues to work wonders. Just check the last 12 months together.