Market Neutral as Traders Wait for Fed

DJIA - 20.11, -0.16% SP500 - 1.47, -0.11% NASDAQ Comp. + 1.46, +0.06% Russell 2000 + 3.49, +0.48% Monday was another day of neutral action with the DJIA and Nasdaq sitting on support, the S&P at resistance and the Russell 2000 moving towards resistance. Traders seem to treading water until Wednesday’s fed announcement. Also keep in mind the non-farm payrolls and unemployment reports will be out Friday morning. The big action today was the pullback in POT, MOS, MON and AGU. The news is that Goldman Sachs removed POT form its “conviction buy list.” On Monday POT traded 16.1 million shares compared with average volume of 10.8 million shares. POT moved down $13.58 closing at 193.50. Monday’s low was above last Thursday’s pullback low of 187.74. SOHU moved up $8.97 or 14.51% on earnings release. HUM moved $1.50 on earnings report. V was down $4.63 in after-market trading after releasing earnings today. X releases earnings tomorrow and Earnings X - 4/29 AKAM - 4/30 GRMN - 4/30 LAMR - 5/7 CELG - 5/8 Today’s Action Moving Up CLF, AAPL, SCHN, GRMN, AMZN, CELG, LEH, GILD, ISRG, JOYG, PETM, RIMM, CNX, Moving Down POT, MOS, AGU, PCLN, CF, IPI, MON, BIDU, FSLR, DECK, GS, IBM, BRCM, FWLT Intermediate Term Market Trend: Neutral Short Term Market Trend: Neutral