Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: -11
DOW: -104
NASDAQ: -16.5
Rus2K: -
TSX/S&P: -
$VIX: +1.40


Internals:

Core Sector List: 14/2 Negative, Gold Down 32pts

- NYSE -
BREADTH: 5/1 Neg
AD LINE: -1160

- NASDAQ -
BREADTH: 1.6/1 Neg
AD LINE: -970

Today on the Marketbeat:

A bearish morning, a choppy afternoon

Today the opening bell was to the downside and the market didn't gain too much ground off that throughout the day. The high point brought the market up to 1097 on the ES futures but failed to fill the mornings opening bell gap and closed the day near pegging the lows. The internals were primarily bearish for the most part of the day, closing the day near their lows with the NYSE Breadth leading the way to the downside (5/1 Neg) while the $VIX pushed up over 1.42 pts.

With a primarily bearish day, we still are sitting in that area of 1100 to 1080 on the ES, which translates to the market still being in the 'showing its hand' area. This means that while the intra-day levels are quite trade able the swing levels are still in quite the holding pattern. The market has pushed up quite alot, and the strength of the bulls should not be fought against, however, with such a bullish rally in the last 8 months the question could be asked how much gas do the bulls have?

All these questions will most likely be answered in the near future, until then trade well and have fun

Happy Trading