Today on the Marketbeat: 915 has been breached

Market #'s @ Closing Bell:

S&P: -12
DOW: -107
NASDAQ: -20
Rus2K: -6.77
TSX/S&P: -77
$VIX: +1.94 (+6%)


Internals:

Core Sector List: 13/3 - Gold, Drug, Healthcare only sectors up

- NYSE -
BREADTH: 4/1 Neg
AD LINE: -1300

- NASDAQ -
BREADTH: 3.3/1 Neg
AD LINE: -1000

Today on the Marketbeat: 915 Has been breached

As mentioned in yesterdays post, the # to watch today was 915 on the S&P Futures (/ES). Today the market gaped up and around midday fell below this psychological level and closed below it around 911 on the ES. What does this mean? Well the fact that we still have the 200ma and 50 ma below us is a good sign to the bulls in that those will be levels that the bears will have to overtake before they can drop the market. On the other hand with the VIX up almost 5 points in just this weeks trading sessions, fear is defiantly coming back into the market and when people get emotional they get greedy and they get scared..

As the market retraces, The US dollar has been strengthening. As the money flows out of the equity and commodity markets, the Money has to go somewhere, and that somewhere is in the currency market - giving reason for the strength of the dollar.

Keep an eye on the up coming moving averages on the major indices...Happy Trading