Gaps, resistance, tech...

We had another gap up this morning, helped by great Google-earnings. This made tech-stocks to gap over resistance. The market tried to fill the gap, which didn't happen. After slowly going lower in the morning, indices reversed after lunch and even rallied to new highs in the last half hour. See 5m-chart for SPY below:

Daily charts for DIA and QQQ:

Semi's keep rising, but move is very extended/overbought:

Not much happening in gold and silver, they were up with the market, but no extreme moves. Copper on the other hand made a +3% move, just like oil.

Trades
I added another 1/4-position to TZA, for a total 50% position, average at 37.94 with stop at 37. Got stopped out one hour before the end of the session. I was too early with the testers, will need to have more patience. Luckily I used small positions, so losses are kept minimal. I better stop picking bottoms and only buy TZA on strength instead. No need to fight the trend. As they say: the market can stay irrational much longer than you can stay solvent.