Futures are still down hard and heavy. The 1056 level will be today’s key level, and you can expect the S&P to open up right around that level there. So if the bulls are going to avoid getting killed today, they’ll need to start buying right at the market open.
As for today’s picks…I’ve stayed away from a long-setup, because, if that 1056 level does break, there is no telling how low we could go today, and in good conscience, I can’t put a long position out there today, until we get an idea of where the chips are going to settle at, when the closing bell rings. I would also be careful with shorting this market today as well, as you will likely be engaging in market chasing, and that type of behavior can get you burned, as well.
SHORT: Alberto Culver Co. (ACV)
