Today on The Marketbeat: Long Weekend Woes

Market #'s @ Closing Bell:


S&P: -37
DOW: -297
NASDAQ: -63
RUS2K: -19
TSX/S&P: -299
VIX: +5.73


Internals:

Core Sector List: 15/1 Neg, Only gold up

NYSE
BREADTH: 19/1
AD LINE: -2660 ticks

NASDAQ
BREADTH: 3.5/1
AD LINE: -1800

Today on the Marketbeat: Long Weekend Woes

After a long weekend celebrating Presidents day, The equity markets got off the a slippery start today as the day opened with a solid gap, down about 20 pts on the S&P futures (/ES). The rest of the day was a lot of chatter up and down, with the markets bottoming out on the S&P's early but making near lows towards close. Internals were a bearish confirmation on the day as we break the 800 support with volume and conviction. Any rally should be looked at closely for a chance to short again against the prior support. The weekly pivot of 782 might act as a short term support for a dead cat bounce type of situation.

It seems we might be in a correction process and may retest those lows sooner than later. Either way, bullish or bearish we as active traders will find a way to play. To anyone who is frustrated with the market action, keep your head up, tomorrows always another day to trade.

Happy trading!