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Post Market Analysis, Thursday October 22: High Base

|Includes: HON, Microsoft Corporation (MSFT), SLB, SPXU, SPY, UPRO

The markets looked like they wanted to head lower early in the session, then chopped around flat mid session, and closed out the day with serious strength. SPY closed the gap from last Wednesday but remained in the high base formation on the daily chart.

I got stopped out of UPRO and lost some money on SPXU intra-day as the trend turned bullish again. Today was frustrating for me, but I am content with my trading performance for the week.

Look out for earnings from Microsoft (NASDAQ:MSFT), Honeywell (NYSE:HON), and Schlumberger (NYSE:SLB) tomorrow. Also we have home sales coming out tomorrow morning.

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Happy Trading,
Jason