Today was a low volume affair. The Nasdaq and S&P found support near their January lows and ended the day close to unchanged. We’re getting oversold and given the apparent lack of selling pressure it would seem that the path of least resistance is up. If I were swing trading this is a tough spot for me to go long though. I’d rather see the indices close above their 50-day moving averages.
Here are charts of the Nasdaq, S&P 500 and the SOX, which was a bright spot today:
And what’s a trading day without me trading Apple? I shorted it for the third day in a row today. This was my big winner for the day with a 4.4R gain. Unfortunately Cramer refused to call his third bottom in a week in Apple tonight so I may have to stop shorting it now. 
I also shorted YHOO today. A while back I said I’d look to short it if/when it tested its 200-day moving average. Well it never got up that far but still present a good swing short entry two sessions ago as it made that bearish engulfing pattern.
Nice shorts, Mike. I also had 2 today, AAPL (like you, I’ve stalked it the last few days) and ISRG — nice continuation move down. Too bad I couldn’t get shares for HANS — this puppy is well loved by short sellers I guess
You caught ISRG… nice! I hated that I missed it today.