Today on the Marketbeat: Volatility is the name of the game

Market #'s @ Closing Bell:

S&P: -11.5

DOW: -105

NASDAQ: -38

RUS2K: -12

TSX/S&P: -254

VIX: +1.17

Internals:

Core Sector List: 12/4

NYSE

BREADTH: 3.5/1

AD LINE: -1800

NASDAQ

BREADTH: 4.75/1 

AD LINE: -1500

Today on the Marketbeat: Volatility is the name of the game

Wow what a Topsy turvey day on the broad markets today. The markets got off to a bearish start with the markets gaping down big on the open, they continued the slide down until 807.5 on the ES. The market took this low as a bottom for the day and rallied off that into the close as it made its way all the way up to 836.5 for a high of the day. This week has been a very volatile day to say the least. 

Under the hood the internals played ping pong, as the Breadths started off heavily bearish and attempted to rally off their lows, but in the end couldn't hold. The AD Line tacked 1800 ticks of loss on the NYSE. 

The market closed near the Resistance 1 point around 828. 

Today on the Marketbeat: Afternoon rally

Market #'s @ Closing Bell:

S&P: +280

DOW: +35

NASDAQ: +66

RUS2K: +18

TSX/S&P: +206

VIX: -9.41

Internals:

Core Sector List: 16/0 to the Bulls

NYSE

BREADTH: 7.9/1

AD LINE: +1800

NASDAQ

BREADTH: 7/1 

AD LINE: +1400

Today on the Marketbeat: Late Day Bounce, S&P +4.5%

Day 1 of President Obama's time in office and The Markets go up, down and sideways. Today the market opened higher, only to quickyl fill that gap to the downside, however, the markets did find a short term bottom near yesterdays lows around 800.25 on the SPY(ES). When the market hit that level today it made a bottom of it and rallied off of it into the late day trading. What we ended up with was a market that broke the pivot point near 2pm and didn't look back, recapturing alot of the losses the markets took yesterday in the big violent selloff. What we ended the day with was a seemingly stronger market than we saw yesterday, closing a bit above R1 Resistance and pputting in some solid numbers under the hood.

Under the hood, the internals were all bullish today with the Core Sector List coming in all bulls and the Breadths both showing a solid day closing at 7 to 1 respectivly. Rounding out the internals, the AD LINE closed in a solid 1900 ticks up which is a huge differential from yesterdays blow out. 

Here are some ideas going into Thurday:

-S&P: 800 is action poitn, if we break to the downside we could see fear based sell off

-IBB: H&S right at neckline, 67 action point/PPH

-Short: FAST 31.5/MCO/WRC/SAM: Watch 4 retest/AZO-BBY:H&S forming, watch/FO

AMZN: break of 48 wit vol/JOSB: short @ higher price/

Obama's In, History repeats as Markets drop

Market #'s @ Closing Bell:

S&P: -45 (-5%)

DOW: -335 (-4%)

NASDAQ: -88 (5.8%)

RUS2K: -27

TSX/S&P: -309 

VIX: +10.85 (56.86)

Internals:

Core Sector List: 16/0 to the Bears

NYSE

BREADTH: 30/1 Neg

AD LINE: -2460 ticks

NASDAQ

BREADTH: 28/1 Neg 

AD LINE: -2000

Today on the Marketbeat: 

Well all the hype and media coverage came to a culmination today as President Elect Barack Obama was sworn in on as the first African American U.S. President. A truly momentous occasion for all. The nation watched in awe as he spoke his inauguration speech, and as he made every move he did today. The Bulls must of been in full force at the inauguration because they were defiantly not present in today's market action. The bears must of been McCain supporters because they swept the market, minus gold into the wood shed for one of those 08 beatings. Although the market was oversold going into today's action, with a lil bit of research one could see that its a usual occurrence that the market dropped on the day the president is sworn in. The rallies usually follow the swearing in, so is this was we are setting up for in the markets? That huge rally to prior resistance? Time will tell, but for now pressure is to the downside.

The internals were all to the bears. The Breadths closed @  30/1 & 28/1 to the bears, the AD LINE tacked on nearly 2500 ticks of loss today and the Pivots were almost non existent as the Futures just plowed through them tot he downside.

Ideas: 

Long:VFC/WRC/COLM/HOC:21/FTO/MRO:Flag/TSO@15/WNR:9/CERN:retestplay/BLUD:BTD/MR

Short: AVB/ESS/EQR/VNO