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)