Friday the 13th

Be careful out there today, folks. Superstitions are lurking around every corner waiting to wreck your trades. Fret not, however, as I'll be personally breaking a mirror while walking under a ladder in front of a black cat. I'll absorb all the superstitious juju for you so that you may have many prosperous trades. The only thing I can't help is if a meteor crashes out of the sky, hits your computer, your stop loss never fills and instead doubles your position, and then the market goes down 1000 points while you are long. Sorry, friends.

Yesterday, the markets really tried their hardest to continue to rally, right up until the bond auction was trash and sent NQ down 250 points from highs. I know very little about how bond auctions work and what they mean, but obviously the reaction meant that the auction was decidedly not good. We did get a little relief bounce into EOD, but I'll be watching yesterday's lows very closely today for interaction to see what happens. We've already bounced once out of that same area earlier this morning, so during RTH I'd love to see another test down there to see if buyers are still present or if it could result in another move back down towards 15000.

However, bank earnings are rolling in this morning and across the board the major players are looking solid. Financials could help bring back an old school float up free money Friday. Or is it all a setup to trick us? It is spooky season after all, and we want treats and not tricks. No matter what happens in the underlyings, it's always the season for playing the levels. Speaking of...

Here are today's NQ levels:

Current Price: 15305

Upside Targets: 15338, 15383, 15406, 15463

Downside Targets: 15290, 15252, 15216, 15170

Stretch Targets: 15507, 15125, 15074 (leaving some additional room on the downside today just in case)