Wednesday, January 28, 2009

Today on the Marketbeat: The Market rallies, The Fed stays low


Market #'s @ Closing Bell:

S&P: +200
DOW: +28
NASDAQ: +53
RUS2K: +17
TSX/S&P: +150
VIX: -2.55


Internals:

Core Sector List: 15/1 tot he Bulls

NYSE
BREADTH: 8.4/1 Bulls
AD LINE: +2200 ticks

NASDAQ
BREADTH: 7.9/1 Bulls 
AD LINE: +1500 ticks

Today on the Marketbeat: The Market rallies, The Fed stays low

Another Fed meeting has come and gone, and for once the market met their news (or lack there of) with a solid day of buying. However, the market gaped open on a bevy of news that hit the fan, so I'm sure the Fed Minutes were more a icing on top for Wallstreet. The markets saw a day today that propelled the ES (S&P) break the R3 line and close above it. We also saw the banking sector scream up. Today was about the bulls.

Under the hood we saw the breadths finally take that leap past 4-5/1 and close the day both in the area of 8/1. The AD LINE backed that up with a solid performance closing just under 2300 ticks on the NYSE and +1500 ticks on the NASDAQ. The core sector list put in a solid performance with only one sector in the red and closing it out the vix dropped another 2.55.

Some ideas for Thurs:

Gold: AUY / AEM / NEM - Watch Gld for an action point on these
Rails: UNP / NSC / CSX - Watch for weakness 

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