Today on the Marketbeat: The Calm after the storm

Market #'s at Close: Monday

DOW: -375 to 11,014

S&P: -48 to 1,207

NASDAQ: -95 to 2,183

RUS2K: -31 to 722.25

VIX: +2 to 34.07

Internals:

(Click Thumbnail to enlarge)

NYSE

Breath: 5/1 neg

TRIN: 0.94

A/D: -2000 ticks

NASDAQ

Breath: 5.5/1 neg

TRIN: 1.82

A/D: -1534 ticks

Core Sector List: 15/1 to the Bears

ES E-Mini S&P 500 Futures Chart:

(Click to enlarge)

After last weeks action packed, news driven, price action bonanza; Many of us took some time over the weekend to #1: Count our blessings knowing we would live to trade another day, and #2: Try to figure out where to go from here. Resting dangerously close to the S2 Support pivot on the ES' we could easily see the markets break the second level of support with an early morning gap down, so that point (S2=1205) remains an important level to watch. With another day filled with seas of red, the trend bucker today was Gold, which if anything gives more ammo to the bear argument as Gold has been and continues to be a hedge for finicky financial times. 

Under the hood internals didn't have much to say for the bulls today, as evidence of a huge governmental bailout would require some help from Horatio's CSI Miami team to gather any proof that it even happened. The core sector list came in at 15/1 to the bears, with Gold as the only sector shining green. The Breaths came in at 5/1 negative with the Trins closing at 0.94 (NYSE) and 1.82 (NASDAQ), with the A/D Lines coming in at -2000 on the NYSE and -1534 on the NASDAQ.

Unusual Option Activity:

AKAM (Oct Calls) / QSFT (Oct 15 calls) / MLNX (Dec) / ALXN (Nov 32.5 Puts) / ERIC (Oct 8.75 puts)

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