Groundhog Day?

Mixed earnings reports and a stronger dollar helped stocks finish about where they started Tuesday. The Dow Jones industrial average wavered within a 100-point range as traders attempted to parse the direction of the economy amid a drop in home prices, a batch of weak earnings reports and a slight rise in consumer confidence. The Dow Jones industrial average rose 5 points, or 0.1 percent, to 11,169. The Standard & Poor's 500 index rose 0.02 to 1,185, while the technology-focused Nasdaq composite index rose 6, or 0.3 percent, to 2,497. Traders were moving out of riskier assets as the dollar strengthened. A stronger dollar makes stocks and commodities more expensive because they are priced in dollars. The dollar rose against Japan's yen and the euro Tuesday. Not to sound like a broken record but early morning weakness dipped right into our chart support levels on the SPY which meant our subscribers were buying this dip. We can't tell you how often this happens on our charts and how much money can be made by utilizing these support and resistance levels on all charts and on all time frames. No weakness was incurred and the uptrend is still intact.