Today on the Marketbeat: Market bounces back

Market #'s @ Closing Bell:


S&P: +21
DOW: +184
NASDAQ: +40
RUS2K: +12
TSX/S&P: +177
VIX: -1.65


Internals:

Core Sector List: 15/1 to the Bulls

NYSE
BREADTH: 9/1 to the Bulls
AD LINE: +1950 Ticks

NASDAQ
BREADTH: 3.5/1 to the Bulls
AD LINE: +1000 ticks

Today on the Marketbeat: Market bounces back

Well today was defiantly a brighter day than yesterdays post turkey day blues. The market opened up on a early gap up 4 ES pts (roughly 40 YM points) and continued to make headway higher into the early afternoon session, pausing and pegging at the R2 pivot level. The afternoon session was a lil less action packed as the markets chopped their way into the last hour of trading. 3pm brought a bounce off R1 as the market made a late day push into the days close. The Market closed with both YM and ES future markets closing making new highs, with many of the key core sectors behind this push. With a close of the S&P's over 880, the market is showing relative strength as it made that final push into the close with all internals backing it up big.

The internals came in today looking like this:

The NYSE breadth finished the day strong at its highs around 9/1 to the bulls, with the AD LINE tacking on . The NASDAQ followed the NYSE with slightly less strength as it closed near its highs around 3.3 to 1 to the bulls. Core Sector list came in at 15/1 closing the day strong under the hood. The final push of the day was readable with the AD Line breaking over 1500 plus, with the Breadths not far behind. Tomorrow should show slightly less volume as New Years eve approaches and traders take leave, so we look forward to Fridays trading session to see how the new year begins.

Today on the Marketbeat: Post Turkey Trading

Market #'s @ Closing Bell:

Market #'s @ Closing Bell:


S&P: -6
DOW: -31
NASDAQ: -23
RUS2K: -6
TSX/S&P: +292
VIX: +1.09


Internals:

Core Sector List: 13/3 to the Bears

NYSE
BREADTH: 2.5/1 Neg
AD LINE: -750 ticks

NASDAQ
BREADTH: 2.8/1
AD LINE: -600 ticks

Today on the Marketbeat:


Well the first full trading day post holiday turkey has come and gone and what a volitile session it was. Crude oil and auto bailouts ruled the days headlines as GM & Chrysler recieved $4 Billion dollars from the Fed respecitivly today. Another headline was crude oil making some headway to the upside today after hittin multi year lows earlier this month. Overall the day was quiet and very much contained on the broad exchanges. My guess is that this week will take some time to build up, but the real trading should come back after the New Year comes in.

The Internals read basic numbers with the breadth coming in aroudn 2/1 on the NYSE and NASDAQ. They also tacked on respectful loses on the AD LINES.

Today on the Marketbeat: Happy Holidays

S&P: -99 to 8420
DOW: -8
NASDAQ: -10
RUS2K: -6
TSX/S&P: +62
VIX: +0.46


Internals:

Core Sector List: 13/3 to the Bears

NYSE
BREADTH: 2.2/1 Neg
AD LINE: -680 ticks
NASDAQ
BREADTH: 2.3/1 Neg
AD LINE: -950 ticks

Today on the Marketbeat: Happy Holidays

As the holidays approach, the market looks to take some profits off the table. Today we opened up high, only to fill the gap and continue on the downward sloping direction. Volume was low today as we approach Christmas. The next week should be considered a bit more important as traders return to their respective desks after the holiday.

From everyone at The Marketbeat blog, and Vision Wealth Management. Have a happy Holiday season, Merry Christmas, Happy Hanukkah, Happy Kwanzaa and another i missed.... Ill be back and fresh next week after the holidays.

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: -19
DOW: -220
NASDAQ: -27
RUS2K: -8
TSX/S&P: -400
VIX: -1.67

Internals:

Core Sector List: 12/4 to the bears

NYSE
Breadth: 3/1 Neg
Ad Line: -500

NASDAQ
Breadth: 3.2/1 Neg
Ad Line: -680

Today on the Marketbeat: Holding the weeks lows

Well after 3 days of modest strength, the market pulled back to Tuesday's lows in today's intra day action. The Market broke lower early and the trend stayed that way, but it held the 880 line on the ES. We finished the day down about 2% on the major indices.

Under the hood, the internals were all int he red as the bears pushed prices lower today. The Breadth finished the day at its lows @ on the NYSE and on the NASDAQ. The Ad Lines tacked on modest losses as they also finished near the lows of the day, down - ticks on the NYSE and - on the NASDAQ respectively.

As the holidays approach, we as active traders should take some time and review our year, see what worked, see what didn't, Look over your game plan for 08, and work on the new trading plan for 09.

Next week, I'm going to focus solely on Inner game, and market recap #'s, For I feel for myself and others like me, that time spent on our Trading Plans, and strategies is time well spent.

From the Pen of Daiz'on End

Marketbeat for Dec 17th

RECAP:

S&P: -8
DOW: -99
NASDAQ: -10
RUS2K: +3
TSX/S&P:
VIX: -2.53

Internals:

Core Sector List: 12/4 to the Bears.

NYSE
Breadth: 1.2/1 positive
AD Line: +500 ticks

NASDAQ
Breadth: 1.5/1 Neg
AD Line: +200 ticks

Chart of Internals (Click to enlarge)

Today on the Marketbeat: Fed's make way for rally

Market #'s @ Closing Bell:

S&P: +44.5

DOW: +360

NASDAQ: +81

RUS2K: 

TSX/S&P: 

VIX: -4.30

Internals:

Core Sector List: 16/0

NYSE

BREADTH: 17/1 Positive

AD LINE: 2100

NASDAQ

BREADTH: 14/1 Positive

AD LINE: 1600

Today on the Marketbeat: Fed's make way for rally

One look at today's rally and one thing becomes quickly evident. The rally was 100% sparked by the FOMC meeting. from which the FOMC Minutes came out around 2pm EST. One glance at the intraday chart and one would easily see the proof for this being the market was a sideways mess up until 2pm est. Once the Fed minutes came out the market exploded higher and didn't let up until the closing bell. What interested me most was the volume, prior to the announcement themarket was flat, to the very meaning of the word. The market hadn't moved much and volume was near to non-existent. After the news the market moved higher, as did the volume. Another important note is that we held 909 on the ES and closed near 918, which are the points of resistance before the major markets can start to even think about moving higher. 

Under the hood, the internals would of been a savior to anyone brave enough to step into the market today. Personally I don't like intraday trading on days like today because their is usually a lot of volatility and I prefer to watch what happens and react to that. But If one was in the market today, using the internals would of kept them afloat. All of the internals (Breadth, AD Line, Trin, Tick) were stagnant with the market, until they started peaking up around 2pm with the market. Keeping a keen eye on the internals while managing plays is the best way to keep your money in your pockets.

Market Recap for Monday December 15th

Market #'s @ Closing Bell:

S&P: -11

DOW: -65

NASDAQ: -32

RUS2K: -16

TSX/S&P: -56

VIX: +2.77

Internals:

Core Sector List: -15/1

NYSE

BREADTH: 2.4/1

AD LINE: -1400

NASDAQ

BREADTH: 5/1

AD LINE: -1400

Today on the Marketbeat: Channel lows give out as buyers take profits.

Market #'s at Closing Bell:

S&P: -22 to 876

DOW: -196 to 8565

NASDAQ: -51 to 1,513

RUS2K: -22 to 453

TSX/S&P: -253 to 8,380

VIX: -0.08 to 55.65

Internals:

Core Sector List: 16/0 to the Bears

NYSE

BREADTH: 6.8/1

AD LINE: -1700 ticks

NASDAQ

BREADTH: 5.5/1

AD LINE: -1200 ticks

Today on the Marketbeat: Channel lows give out as buyers take profits.

Well the lows held throughout this week but gave way as selling pressure built up today on the broad markets. From opening bell to around 3pm it looked like the market was gonna pull triplets this week with price action staying in that channel we have been developing, however, today the trend broke as dip buyers took some much needed profits off the highs and the selling pressure gave the bears enough hootspa to break through the Support (S1) that has been holding up so nicely. The second level of support held today at the close. 

Under the hood, the internals were once again a day traders best friend, while the TICK wasn't much help, the Ad Line and Breadths defiantly helped the active trader today. The Breadth started churning out some nice big red body candles around 2pm, a little before the market turned over and broke through the S1 level. The Ad line did a bit of the same making some nice big red body candles at the same time. This was the first heads up that the support level might not hold because of the building selling pressure. 

When all was said and done today the bears defiantly made the bulls remember that this is in the big picture, still a bear market, and the bears have been away so who knows what they have in stored. Could we retrace the gains and test lows? or do we build off the gains we have put in. As always only time will tell, and i'm not much for psychics. 

Till next time Happy Trading

Today on the Marketbeat: Channel bound trading

Market #'s @ Closing Bell:

S&P: +10

DOW: +70

NASDAQ: +18

RUS2K: +10

TSX/S&P: +215

VIX: -3.09

Internals - 

Core Sector List: 14/2 To the Bulls

NYSE

BREADTH: 3/1 Pos

AD LINE: +1200 Ticks

NASDAQ

BREADTH: 2/1 Pos

AD LINE: +840 Ticks

Today on the Marketbeat: Channel bound trading 

Well after what seemed like a seemingly endless stream of triple digit gains and losses for what seemed like forever, but in reality was more like the majority of 2008, we have seemed to hit a period of relative strength and relative modest gains and losses. This week is turning out to add to this theory as the price action from yesterday and today is nearly identical. When looking at the action of the past two trading days on the major indices, one can easily notice that the lows and highs are almost identical, however what is interesting is the divergence between the seemingly identical price action over the past two days and the breadths gain in strength without the price action to back it up. What could this spell? Well it could spell a decent gain on the averages over the next couple days. 

Under the hood, is an interesting story today and not for the normal reasons. As mentioned before the Breadth and AD Line has shown some modest gains under the hood, but like previously mentioned, the price action has not followed suit. Usually when the under the hood indicators show relative strength/weakness without price action to back it, it could spell out a divergence play where the price action will follow suit after the indicators show it. The TICK spent most of the day today split between highs and lows. 

Today on the Marketbeat: Index's take a breather

Market #'s @ Closing Bell:

S&P: -22 to 887

DOW: -245 to 8,691

NASDAQ: -23 to 1,548

RUS2K: -12 to 469

TSX/S&P: 166 to 8,400

VIX: +0.33 to 58.82

Internals:

Core Sector List: 12/4 to the Bears

NYSE

BEADTH: 2.7/1 Neg

AD LINE: -1200

NASDAQ

BEADTH: 2/1 Neg

AD LINE: -950

Today on the Marketbeat: The Index's take a breather

The Market got off to a slightly bearish start today as the major indices opened up with a gap lower, right under the days pivot point. The market managed to fill the gap quite quickly, moving up past the days pivot point and up almost pegging the R1 for the day. However, the markets rolled after they couldn't muster the strength to rally past the pivot and moved down basing around the Pivot Point and then finally breaking lower in the early afternoons session. The day finished near the lows of the day around 890 on the ES futures, right below the S1 mark. 

Although the days action was primarily bearish, the bulls did give it a solid fight. And with market levels so oversold after last weeks bullish run, a day like today, a digestion period was almost needed. Now we will watch to see if we can build off this or maybe consolidate some more, or just drop down to the lowers, as players sell into the markets strength. 

Under the hood the internals were mixed. The TICK was up and down most of the day, giving us the idea that the market action was mixed at best. The AD Line tacked on about 1000 ticks lost on both the NYSE & NASDAQ and the Breadths were slightly bearish. All signs leading to a mixed to slightly bearish intraday market action. 

Unusual Options: EAT (Jan 10 Calls), ABC (Dec 30 Puts), PCX (Dec 10 Calls - Takeover news), TIE (Dec 10 Calls - Takeover news), DHR (Selling Dec 50 Calls)

Today on the Marketbeat: Santa Claus Rally is coming to town?

Market #'s @ closing bell:

S&P: +296 to 8931

DOW: +33 to 909

NASDAQ: +62 to 1571

RUS2K: +16 to 477

TSX/S&P: +497

VIX: -1.92 to 58.01

Internals:

Core Sector List: 15/1

NYSE

BREADTH: 6/1 Pos

AD LINE: +1750 ticks

NASDAQ

BREADTH: 6/1 Pos

AD LINE: +1500 ticks

Today on the Marketbeat: Santa Claus Rally is coming to town?

Wow, what a way to start the week. Last week ended with a solid end of the day rally on Friday after the indices had some issues in the early session. We ended the week up, and passed the torch into this weeks start. The Market saw most of the gains pre-Market hours, as the major averages opened near R1 and chopped some sideways action in before the 2pm market reversal when the internals perked up and brought the market up towards R2. Overall sentiment today was BULLISH, as the internals clearly gave us the signal to stay long today. 

Under the hood, the internals gave some solid Bullish readings today. The AD LINE tacked on some solid gains and closed near its highs @ +1600  . The Breadths closed the day in positive territory, @ 6/1  on the NYSE & NASDAQ respectively.  Closing out the internals the TICK spent a large amount of time above 0, giving us the sign to stay on the prowl for bullish ideas. 

Many unusual option activity hit the ticker today.

- RGC: Dec 10 Calls / SEPR: Dec Calls / LAMR: Dec 15 Puts / BEN: Dec 60 Puts / ATVI: Dec Puts. 

Today on the Marketbeat: Bernake's beard grows grey & Late day tom foolery

Market #'s @ Closing Bell:

S&P: -31

DOW: -215

NASDAQ: -53

RUS2K: -16

TSX/S&P: -237

VIX: +4.02

Market Internals:

Core Sector List: 14/2 to the Bears

NYSE

BREADTH: 3.3/1 Neg

AD LINE: -1500 Ticks

NASDAQ

BREADTH: 1.35/1 Neg

AD LINE: -1000 ticks

Today on the Marketbeat: Bernake's beard grows grey & Late day tom foolery

Today I awoke to Fed Chairman Ben Bernake speaking about what else, more credit issues. Ill be honest, as half asleep as I was, his beard was looking a couple shades of grey darker today. Anyways, the market paid attention to his words most of the early session as it chopped around between the Pivot point and R1. However, the calm was disrupted by the ever famous late day big movement, in today's case, it was a big bodied red candle to the downside. This swing down @ approx 3:00 (key reversal period). The market took a 20 ES point beating to the downside only to hold S1 for some solid support, bouncing up but closing the day around the lows.

Under the hood internals gave us the best heads up on the big wash out. prior to 3pm the Breadth started to peak up towards the negative side and @ 3 jumped to new lows. The AD LINE went straight red starting around 3pm and what I found weird the TICK gave no warning to this violent downward swing. 

Besides the late day theatrics, we are seeing some of the first signs of bullish sentiment in months. Just looking at the charts you might not see this, but there are ways to see the "behind the scenes" action in the Market. The first tool to use is an indicator called the RSI (Relative Strength Indicator). When taking a glance at a S&P chart with the RSI on it (Daily), you will notice in the last 3 months as we have moved downward, the RSI has been gaining relative strength(SEE CHARTS). Another way to see the bullishness growing is on the VIX, now once again looking at the chart face value doesn't help us, because were still in no mans land at highs. But when you draw some trend lines you can see that the vix spent some time earlier this year expanding, now it seems to be collapsing forming a Diamond Top, (Investopedia Definition)

Chart 1: SPY (Relative Strength) - Click to enlarge

Chart 2: Vix Diamond Top -Click to enlarge

Today on the Marketbeat: Higher highs & Higher lows, What the deuce?

Market Numbers @ Closing Bell:

S&P: +22

DOW: +172

NASDAQ: +42

RUS2K: +12

TSX/S&P: -31

VIx: -1.96

INTERNALS:

CORE SECTOR LIST: 13/3 to the Bulls

NYSE

BREADTH: 3.2/1 Pos

AD LINE: 1000 ticks

NASDAQ

BREADTH: 4.2/1 Pos

AD LINE: 750 ticks

Today on the Marketbeat: Higher Highs & Higher Lows ...What the deuce?

Do my eyes deceive me or is the market holding up ? Now lets not get talking bottoms here, but stick to what is presently shaping form. First off after the big profit taking, post turkey day wash out, we held a solid support line and bounced nicely yesterday. Today we gaped a lil under the daily pivot, which quickly filled and ripped up to the R1 pivot (As seen on graph 1). The first Resistance point was met with some profit taking and a bit of a chop fest. In the early afternoon session the big boys down at the exchanges cued up the ever famous head fake down tot he days pivot point and rallied into new intra day highs, just about R2, closing near those highs.

Graph 1: Market Internals (Click to enlarge)

Under the hood was a bevy of internal action. The breadth was bouncing back and forth all day until the bulls seized control in the late afternoon as we rallied to new intra day highs, closing the day at 3.2 & 4.2 to 1 on the NYSE & NASDAQ respectively. The AD LINE bounced around from positive tick readings to negative but closed the day strong at its highs around +950 ticks. And rounding out the internals the core sector list closed the day with 13 of 16 core sectors in the green. 

Today on the Marketbeat: Bears? What Bears?

Market #'s @ Market Closing Bell:

S&P: +33.4

DOW: +270

NASDAQ: +49

RUS2K: +23

TSX/S&P: -92

VIX: -5.04

Internals:

Core Sector List: 15/1 to the Bulls - builders, banks, drugs leading

NYSE

BREADTH: 8/1 to the bulls

AD LINE: +1600 ticks 

NASDAQ

BREADTH: 5.8/1 to the bulls

AD LINE: +1200

Today on the Marketbeat: Bears what Bears?

Another day another dollar, another rally. The Market held off the bears once again as the major exchanges bounce off support levels for the time being. 820 seemed to be the action point as after we briefly crossed it, the market rallied hard into the afternoon where the usual fake out took place as the players over there on the NYSE shook out some longs and then some shorts into the end of the day as we rallied into the close at new day highs

ES Futures (S&P500) Chart (Click to enlarge)

Under the hood we saw the internals pave the way for short term traders. The Core Sector list finished in at 15/1 tot he bulls, as the AD LINES tacked on +1600 & +1200 on the NYSE & NASDAQ respectively. The Breadth finished a solid day at 8/1 on the NYSE and 6/1 on the NASDAQ. And the TICK spent the majority of the day above the 0 mark. Over all the day was primarily bullish aside from some fake out plays in the early afternoon which have become almost the norm in this market. 

So as it looks now, the short term lows of last week held a bit, and we bounced off them with a bit of conviction. What to watch for now: watch to see if the ES can hit & hold 850, and from then 874. These are technical markers that if we test and break could lead to more bullishness, on the flip side if we don't hit or hold those levels they are solid action points to the downside.

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Finance Ready ?

Ive made a lil compilation of a couple larger name Finance stocks to see how they are holding up. 

Also a compilation of bailout names like Fannie and Freddie to see what they've been up to

Finviz - Finance Stocks Charts

Here is Freddie and Fannie Mae

Fre & Fannie - Finviz Charts

Remember you can click on the chart thumbnails to enlarge the chart to get more details.

My regular recap post will be posted as usual around 5pm. 

Today on the Marketbeat: Post Turkey Tumble

Market #'s @ Closing Bell:

S&P: -80 (-9%)

DOW: -670

NASDAQ: -113

RUS2K: -47

TSX/S&P: -829

VIX: +12

INTERNALS:

CORE SECTOR LIST: 16/0 to the Bears

NYSE

AD LINE: -2470

BREADTH: 75/1

NASDAQ

AD LINE: -2000

BREADTH: 38/1

Today on the Marketbeat: Post Turkey Tumble

Well with a week last last week, full or turkey, stuffing and a 5 day market rally, one could have had an idea that some profits would be taken off the plate. Todays early drop on the open took the market down a fair chunk, down 20 ES points (-2 pts on the SPY), as we continued that slide down for the most part of the day [Nearly 500 YM points]. Internals were not much prettier as the core sector list was looking similar to Santas suit after a holiday feast, all red. Breadth, AD lines and TICK were also all in the red today as any sign of last weeks bulls has faded. As much as this downward wash out could have been somewhat expected as the crisis were facing in todays market is far from over, the market still managed to hold last weeks lows around 84 on the SPY [830 on the ES]. A hold on the close sugests that we could have a decent level of support to work with, but with all things financial, only time can tell.

 

Market Internals (Click to enlarge)

Under the hood as discussed earlier was a sea of red today as the core sector list closed in completely to the Bears 16-0. The AD LINE tacked on about 2500 ticks of loss, and the TICK spent 85% of its day under 0 showing a definate bias to the bears. The trin acted nice today moving higher and making higher highs.  

At the close we saw the markets give back about 6% on avaerage on the major exchanges. Many of the important sectors also gave away a decent chunk, but the important thing is to see if the market wants to hold the lows put in last week. If we can hold these lows and make a bounce we could bear witness to a rally that could take us into the end of the year, however if the lows hold we could see a slide back down to lows. As always time will tell.

Today on the Marketbeat - Pre-Turkey day rally, hold the stuffing.

Market #'s @ Closing Bell:

DOW: +246

S&P: +30

NASDAQ: +67

RUS2K: +21

TSX/S&P: +160

VIX: -5.55

Internals:

Core Sector List: 16/0 to the Bulls

NYSE

AD LINE: +2100 ticks

BREADTH: 9/1 Pos

NASDAQ

AD LINE: +1676 ticks

BREADTH: 15/1 Pos

---------------------------------

Today on the Marketbeat - Pre-Turkey day rally on less than stellar #'s, oh and hold the stuffing. 

Today the market opened with a solid 20 point ES gap, which filled around 11am. The market continued to push higher on bullish internals, with the TICK and BREADTH giving the thumbs up for the bullish sentiment. The Market ripped to new highs for the week as we took out R1 on the ES and YM with relative ease. We came close to pegging the R2 pivot on the day, on lower volume which can be expected on a holiday shortened week. Into the close we saw the market close at the days highs, as traders get ready for a feast and we see a 4th days in a row to the upside. 

S&P +17% in four days, DOW up 15% in four days

Under the hood the internals were biased to the Bulls today as the BREADTH, AD LINE and the TICK all read Bullish sentiment today as price action confirmed it. The Ad Line closed picking up about 2000 ticks on the day, and the Breadth closed a nice / for the bulls. The Core sector list rounded up the internals closing at 16/0 to the Bulls. As we go into Turkey day with some bullish bounce.

So until Friday Have a great holiday, and remember give thanks for the blessings we have.

Daiz'on End 

Today on the Marketbeat: Sideways till Turkey Day?

Market #'s @ Closing Bell:

DOW: +36

S&P: +5

NASDAQ: -7

RUS2K: +3

TSX/S&P: -26

VIX: -3.92

Internals:

Core Sector List: 13/3 to the Bulls

NYSE

BREADTH: 1.9/1 Pos

AD LINE: +850 ticks

NASDAQ

BREADTH: 1.5/1 Neg

AD LINE: +340

Well after yesterdays bull rally, a lot of expectations were gathered about what kinda market action we would witness today. Out of all the expectations, the one that probably was expected the least was a totally sideways chop fest from open to close. Now don't get me wrong here, a sideways choppy day is nice to see when the norm is volatility through the roof, and add to that the fact that this week is a short/holiday week, it doesn't take much to put the market in a sideways trend and volume today was less that powerful down about 10% for the day compared to yesterdays volume. 

Under the hood was a smorgasbord of Bears vs Bulls all day long as they battled for control back and forth until towards the end of the trading day when the bulls at least took control of the internals as they inched towards the highs of the day. The Breadth closed bullish on the day on the NYSE and slightly  on the NASDAQ as the put in  and  respectively. The AD LINE tacked on some modest gains on the days low volume picking up  ticks. and the trin closed just below 0.8. 

Overall the week continues to show the holiday effect as volume is light as we continue this short week. Thursday the market is closed for Thanksgiving and Friday the market resumes with a half day closing at 1pm. 

Today on the Marketbeat - Citi gets $, Obama discloses plan & team

Market #'s @ Closing bell:

DOW: +362

S&P: +48

NASDAQ: +82

RUS2K: +32

TSX/S&P: +413

VIX: -10.43

INTERNALS:

Core Sector List: 15/1 - Bulls

NYSE

AD LINE: +2350

BREADTH: 12/1

NASDAQ

AD LINE: +2000

BREADTH: 16/1

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Today on the Marketbeat - Citi gets $, Obama discloses plan.

Well if your a bull, a day like today would make you smirk. Now we've seen more than a hand full of big bear market rallies, that looked promising, but only sliced through our hopes like the support it went through the next day. Today's price action has a nicer tune to it. Now whether this is the bottom or not, is not really my center of focus, what is however is the fact that the markets broke the downtrend line today. If we can see the market hold a 50% retracement of today's price action, or even better an extension on the rally, it could spell some problems for the short selling bears. 

Under the hood, the story was a bit of the same, bullish everywhere but on the VIX. The Breadth put in some good numbers closing in around  / to the bulls, as the AD LINE tacked on some gains for a change up over 2000 ticks on the NYSE, and up  on the NASDAQ. The Trin looked gorgeous making lower lows all day along wit the bullish trend, and finally the tick spent a majority of the day above 0, giving traders the idea to stay long, since its the way of least resistance. 

The trend of late day rallies/breakdowns continued today as was the fad the last couple of weeks. The market picked up a big size of its gains on the opening and in the last hour of trading. The S&P moved 20 ES future points in the last hour, and ripped down those 20 points, for a pick pocket move, moving back up, as the last hour continues to be the most volatile hour in trading. 

 

Today on the Marketbeat: NEW 10 Year Lows on the S&P & DOW

Market #'s @ Closing Bell:

DOW: -444

S&P: -54

NASDAQ: -69

RUS2K: -22

TSX/S&P: -683

VIX: +6.52 to 80

Internals:

Core Sector List: 16/0 tot he Bears

NYSE

Breadth: 15/1 Neg

AD LINE: -2600

NASDAQ

Breadth: 12/1 Neg

AD LINE: -2100

Today on the Marketbeat: New more lows on the Spooze

The biggest piece of news is clearly today's test, and breakdown of the 02-03 lows on the S&P (DOW), this is a very key piece of information as when the market sold off today, it acted as those levels weren't even there. 

Last post I discussed the use of the trin when it closes above 2, or below 0.2 on the day. When you get a reading at either extreme the idea is that the next day the market could see a reversal of set extreme reading. Yesterday we got a reading of 3, well over a close above 2 so I mentioned that the market could see a quick rally on the day. Now what I wanna focus on today is the half day rally we saw before the sellers reloaded and shorted the market to new lows on the DOW and S&P yet again. We opened down today then quickly snapped back rallying into the daily pivot line, almost pegging it, then reversing gears to the downside in the afternoon. from the initial lows, there were defiantly some good opportunities to catch some intra day swings, but with the rally being squashed in the afternoon into another sell off, do these rules of thumb still work? The quick answer is that in a market like this, whatever strategy you use, you have to keep in mind that it can switch gears on a dime and rip either way, so you have to trade small and be quick to take profits. 

Under the hood the internals were once again the superheros for active traders. Giving us the slightest of warnings on sentiment swings and helping us decipher when to take profits if we rode that rally. The trin posted a +1125 reading at 12:45, simultaneously with the price action making its second consecutive topping tail before it dropped. The Breadth showed some bullish intent early on but at 12:45 it also turned around pointing to a bearish afternoon. Finally the AD LINES tacked on some more losses with the NYSE closing down 2600 ticks and the NASDAQ down 2100 ticks. 

Overall this has been another week to the bears. The 03 lows have been tested and seemingly broken. So what does this spell for the market? only time will tell, till Sunday - Plan your trades, and trade your plans...

Today on the Marketbeat: The lowest close of this year (not lowest low)

Market #'s @ Close:

DOW: -427

S&P: -52

NASDAQ: -96

RUS2K:

TSX/S&P:

VIX: +6.83 to 74.48

Internals: 

Core Sector List: 16/0

NYSE

AD Line: -2798

Breadth: 50/1 Neg

NASDAQ

AD Line: -2200

Breadth: 38/1 Neg

Another day another drop, making new lows for the week and month. The Vix shot back up 74 today as volatility continues to be a huge factor. The NASDAQ 100 is a terrific example of how the bearish sentiment is still strong, as 99 on the stocks trading in the NASDAQ 100 were trading lower today, with the one exception being up 6 cents. On a technical note, the ES futures closed pegging the lows today, right under the S2 Pivot. and volume was increasing as the day got progressively bearish. On the YM (Dow Futures) they lost 8000 near the bell, closing @ 7992.

Under the hood wasn't much prettier if you like Bullish action, as the internals were testifying for the Bears today. First up on the stand was the Breadth; and this was the key witness in today's case as it put in a 50/1 reading to the bears on the NYSE and 38/1 to the bears on the NASDAQ; in terms of breadth readings it doesn't get much more nasty than that. The AD Line tacked on some huge losses, -2800 on the NYSE and -2200 on the NASDAQ. While the trin is finally acting right making higher highs throughout the day closing above 3 for the first time in awhile, giving note to a possible bear rally tomorrow (Close above 2 on the TRIN = 80% chance of rally next day). 

We will have to see what the market has in store, until then, plan your trades, and trade your plans....

Today on the Marketbeat: Another inside day

Market #'s @ Close:

DOW: +86

S&P: +8

NASDAQ: +1

RUS2K: -4

TSX/S&P: +38

VIX: -0.73

Internals:

Core Sector List: 9/7 to the Bears

NYSE

AD LINE: -890 (Down over 2000 ticks at low of day)

BREADTH: 1.5/1 neg

NASDAQ

AD LINE: -580 (Down over 1600 ticks at low of day)

BREADTH: 2/1 Neg

Today on the Marketbeat: Another inside day

Market/Price action was again king today as the major indices enjoyed another inside the pivots day. The day got off to a decent start, flirting around the days pivot point (860 on the ES futures). It stayed within this range until the early afternoon hours when the sellers took control and put the indexes down to their S2 (support 2 pivots). At this point the market turned on a dime and rallied hard into the close finishing above today's pivot on the YM and slightly below it on the ES, closing the day with a small gain. 

Chart of Internals (Click to enlarge)

Under the hood, once again the internals told the story behind the price action with the Breadth and AD LINE, combined with the $TICK continue to be a active traders best friend.  The breadth was bearish for most of the day, but in the last hour of the day when the markets rallied the Breadth took a sharp turn up going from 8/1 negative to close around 1.5/1 on the NYSE. The AD Line lost some ticks closing around 900 ticks, but comparing the lows of the day having a -2000 tick reading at the lows that isn't so bad. The Tick spent most of the day in the negative side, but moves up sharply as the market rallied. What interesting about the TICK is that it closed a big body candle at -1306, at 2:45, when you look at the ES chart that's the exact candle where the rally capped off, showing once again that when the Tick closes below or above 1000/-1000 it gives a good shot that a reversal is on its way. 

Chart of Tick vs ES (Click to enlarge)

Today on the Marketbeat: Just another manic Monday....

Market #'s @ Close:

DOW: -223

S&P: -22

NASDAQ: -30

RUS2K:

TSX/S&P:

VIX: +2.79

Internals:

Core Sector List: 15/1, utilities only sector up.

NYSE

BREADTH: 5/1 Neg

AD LINE: -1600

NASDAQ

BREADTH: 4/1 Neg

AD LINE: -1000

Today on the Marketbeat: Just another Manic Monday...

Today the market continued the downward slump that we ended the week with last week. We picked up where we ended, and ended where we picked off as once again the market sold off hard into today's close giving up any modest loss it had up till 3:45pm. Although the overall sentiment today was bearish, it didn't stop the bulls from trying to push up, only to be squashed by the Pivot line resistance. The market managed to hold the lows as the bears put in a final attack holding and closing at the lows. 

Under the hood, the internals continue to be the savour for swing/day traders as they continue to be the next to best indicator, second to price action. The AD Line held up until 1pm when it began to drop off steadily, closing the day at minus 1500 ticks on the NYSE (-1000 on the NASDAQ). The Breadth came in at 5/1 negative on the NYSE and 4/1 negative on the NASDAQ, while the Trin closed the say at its highs around 1.5.

Today on the Marketbeat: You call that a rally? This....is a rally

Market #'s @ Close:

DOW: +571 

S&P: +60

NASDAQ: +97

RUS2K: +27

TSX/S&P: +297

VIX: -7.21

Internals:

Core Sector List: 16/0 to the Bulls

NYSE

BREADTH: 13/1 to the Bulls

AD LINE: +1560 Ticks

NASDAQ

BREADTH: 10/1 to the Bulls

AD LINE: +1300 ticks

Today on the Marketbeat: You call that a rally? This....is a rally

Today the market seems to have set in a short term bottom. This isn't by any means a reason to jump long. However, with the Bullish Percent ($BPNYA) has reached below 30 (oversold level) and during today's intraday price action, the market sold off all morning only to stop short of S3 on the YM & ES and shoot off a rally spanning more than 600pts on the ym, 70 es points [Which translates into a +7 pt swing on the SPY & DIA]. If you were just looking at a daily of today's price action you would miss half of today's story, to capture all this goodness, take a look at a 1day, 5 min chart of the ES (S&P 500 e-mini futures)

ES 1day, 5Min Chart (Click to enlarge)

As you can see, the market flirted about 1/3 towards S3 for the day when it hit a short term bottom and rallied hard off this level. the first point of resistance was the PP (pivot point), after a quick back off it blew right by the pivot like it wasnt there. the next point of resistance was R1, which it backed off than jumped through that level as well. towards the end of the day, the rally continued to put buying pressure on the seller in the market, as the ES & YM closed at the highs, which happen to be pegging R3. What does all this mean? Well Commodities lead the way today, shippers, mining, oil, oil services, gold, internet all up +9%, leading the way on the core sector list and the rally. So could the commodities be ready for another run?

Internals Chart (Click to enlarge)

Under the hood, the market showed a battle between bears and the bulls all day, with the bulls finally taking a win this week. The Breadth showed a beautiful double helix looking pattern as the bear and bulls battled for the day, as you can see the Bulls won out around 2pm as the rally began to spark off. The AD Line proved a valuable tool as it soared up closed up + , which is equally impressive considering the lows of the AD LINE was -2000, so it had a 3000pt ad line swing intraday. Even the trin showed itself somewhat useful as it made high highs as the market dropped and lower lows as it rallied hard. 

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