Monday was a light session as most traders stayed on the sidelines waiting for the Presidential election to take place this week. Stocks had minor gains later in the day. ISM Non-Manufacturing report came in light – practically neutral, but still in expansion which did not sway the market.
The major indexes continue to trade in a fairly tight trading range.
Most stocks did not budge much, however ANF had a $1.29 or 3.94% pop today after breaking the descending trend line 3 days ago.
Rockwell Automation (ROK) continues to act strong with some heavy volume. Very nice!
HES appears to be pushing up against this resistance area and the volume is increasing. Time will tell if it breaks it.
CVC broke this long trend line that started in early June on decent volume. We will see if there is a follow through day, but at this point it appears that the trend was broken.
FLS looks very healthy since breaking this resistance level. It is managing to stay above it and keeping it as support so far.
Be patient over the next few days until after the election and let everyone digest the news or trade carefully with tight stops.