Dollar Higher Dropping Markets, Key Stocks Revealed

After a lackluster jobs report this morning, the markets opened higher on a weaker Dollar. However, by 10:30am ET, the Dollar caught a bid and surged to the upside. This move higher, compiled with the poor Non Farm Payrolls number, killed any possible rally. The SPDR S&P 500 ETF SPY is trading at $126.87, -0.52 (-0.41%). There has been a key reversal in Amazon.com, Inc. AMZN. After being upgraded today, AMZN surged to a high of $188.45. As the market has moved lower, AMZN lost all of its gains and is now hovering at $184.96, -0.90 (-0.48%). This is an important reversal and may mark a short term top on the stock. In addition, always be extremely wary of any analyst who upgrades a stock when it is trading at all time highs, with a market that is trading at all time highs. It usually marks the top of any stock or market. The strongest key stock of the day is definitely Exxon Mobil Corporation XOM. While the markets have gone negative, this stock has held its gains. XOM is trading at $75.60, +0.42 (+0.56%). XOM has been a powerhouse July when it was trading at $56.00. Since then, it has gone up almost non stop. From that level, XOM is up 35%. While it has been strong, $76.00 is an impressive resistance point that must be respected. A pullback off this level is likely. Gareth Soloway InTheMoneyStocks.com