SPY MARKET ANALYSIS
Currently the market is going SIDEWAYS and we are seeing neither buying or selling pressure causing prices to stay the same. Periods where this has been true in the past are indicated by the grey areas in the market analysis chart below. These markets should be pairing off longs with shorts with tighter target points.
|STRENGTHENING||Showing upward momentum right now is XLNX which is our strengthening momentum long pick for today. We wouldn’t be surprised to see a +4.2% up move in XLNX today. Xilinx, Inc. (Xilinx) is engaged in designing and developing programmable devices and associated technologies.|
|WEAKENING||Showing downward momentum right now is MHK which is our short pick for today. We wouldn’t be surpised to see a -2.5% down move in MHK today. Mohawk Industries, Inc. is a flooring manufacturer that creates products for residential and commercial spaces around the world.|
Paul "Bulldog" Hudson, Chief Investment Officer
Darwin Investing Network