Wednesday, July 8, 2009

Today on the Marketbeat: Bearishly Bullish?



Market #'s @ Closing Bell:

S&P: -1.5
DOW: +14
NASDAQ: +1
Rus2K: -3.7
TSX/S&P: -172
$VIX: +0.37


Internals:

Core Sector List: 10/6 Bears

- NYSE -
BREADTH: 2.5/1 Neg
AD LINE: -950

- NASDAQ -
BREADTH: 2.2/1
AD LINE: -900

Today on the Marketbeat: Bearishly Bullish?

Another day another dollar, the market closes slightly higher today after it lost the all important support levels during intraday trading. 880 was cracked this morning and 873 was broken without much trouble. Alcoa releasing earnings tonight after the bell and could give us a good idea of what the market and other players should be up to as the earnings season opens up.

Internals were bearish today, despite the late day rally to the pivot. Under the hood the market closed all bearish down the line with the core sector list closing 10/6, ad lines closing down about 900 ticks and the breadths closing the day around 2/1 negative.

Watch Alcoa tonight
Happy Trading

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