
Market #'s @ Closing Bell:
S&P: -4.5
DOW: -26
NASDAQ: -7.5
Rus2K: -2.5
TSX/S&P: -101
$VIX: +0.73
Internals:
Core Sector List: 11/5 to the Bears
- NYSE -
BREADTH: 1.4/1 Neg
AD LINE: -650
- NASDAQ -
BREADTH: 1.2/1 Neg
AD LINE: -620
Today on the Marketbeat:
New area to watch - 965 to 982 on the SPX / ES. This is the area in the sand where the market could move Up or to the Downside. Today was a bit more of what we witnessed yesterday aka Chop. The market had a bearish tone today, a lil ore so than that of yesterdays intra day trading actions. The Market was down most of the day, with a slight rally towards the end of the session most likely due to profit taking.
Under the hood the market was mostly bearish, with the core sector list closing the day 11 over 5 to the bears. The Ad Lines were both down 600 ticks or more while the Breadths closed the day down a modest 1.4 and 1.2 to 1 negative.
As mentioned at the top of this entry, the new area to watch on the S&P is 965 (to the downside) and 982 (tot he upside) if either of these levels are breached with enough force (read: volume) then the market should continue to either direction. For now we might continue to witness more chop. Stay Nimble and happy Trading


No comments:
Post a Comment