Today’s watch-list is coming to you a little bit earlier than usual, as I am finding it quite difficult to sleep right about now, so I figured I would take advantage of this extra time and knock out the trade-setups for today.

Prior to the open things should be relatively quiet as we have the ICSC Goldman Store Sales at 7:45am ET followed by the Redbook at 8:55am ET.

Futures are showing some weakness and the dollar is showing a descent amount of strength, opposite of the weakness being demonstrated in gold right now.

Here are Today’s Trading Ideas

Potential Swing Trade (Long): Goldman Sachs (GS) – Has managed to break through a major resistance level at $160. It has since rallied very nicely and has recently seen a light-volume pullback to a major support level, that, at current pricing, provides a handsome risk/reward scenario. Place your stop-loss at 167.50.

Click here to See the Rest of My Trading Ideas.

Potential Swing Trade (Short):  Universal Travel Group (UTA) – Since its highs of last year, this stock is slowly breaking down. If you can get a close below 8.68, then you are likely to see the bottom fall out of it. It is a good ways from that point, but will continue to watch for further weakness developing in UTA.

Potential Swing Trade (Long): Clearwire (CLWR) – After bouncing off of its established upward trendline, the stock basted off, breaking through major levels of resistance. Since then it has retraced back to its Fibonacci 61.8% retracement level, and has consolidated over the past week right on that level of support. Place your stop at 6.99.

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