Today on the Marketbeat: Close but no rally v2.0

Market #'s @ Closing Bell:

S&P: -8

DOW: -80

NASDAQ: -16

RUS2K: -6

TSX/S&P: +121

VIX: -1.85

Internals:

Core Sector List: 14/2 to the Bears

NYSE

BREADTH: 2/1 Neg

AD LINE: -774

NASDAQ

BREADTH: 1.77/1 Neg 

AD LINE: -1000

Today on the Marketbeat: Close but no rally v2.0

Today was an interesting day to say the least. After 8 consecutive losing days on the Markets, they found support and managed to rally yesterday off solid internals. The number to watch was 775 and 755 on the S&P futures the (/ES). Both these lines played a big role in today's price action as the support of 750 was held and a late day rally attempt put the markets over the 775 level for a short period until the markets took their profits and ran into the close. 

Under the hood the market held up well over all today, as signs of the bulls have come slowly back into the picture. There should be no doubt we probably will retest lows but if the bulls can give it some more juice we could see a short term pop up that would be great for swing/gorilla trading. The Breadth closed in at 2/1 Negative on both NYSE and NASDAQ, the AD LINES performed well rallying most of the day only to fall with the market towards the close...giving up about 800 ticks a piece. Oddly enough the Vix lost about 1.5 points today showing that even though we didn't go up the fear let up a bit today.

Till next time, Happy Trading