Today on the Marketbeat: Late day news driven short squeeze

Market #'s @ Closing Bell:

S&P: +1

DOW: +7

NASDAQ: +11

RUS2K: +1.75

TSX/S&P:  +10

VIX: -2.47

Internals:

Core Sector List: 8/8 Split

NYSE

BREADTH: 1.1/1 Neg

AD LINE: -200

NASDAQ

BREADTH: 2/1 Pos 

AD LINE: +50

Today on the Marketbeat: Late day news driven short squeeze

I think the title basically sums up today's action. Well looking back to earlier in this week when the market was a total chop fest, One couldn't of asked for a more actionable day in the markets. We started the day with a gap down near S1 on the S&P Futures (ES) and used that for short term support. A reverse in the market action into the lunch time took the market back up to the mid pivot between the Pivot and S1 but with the return of traders in the early afternoon the market was taken back down to new lows, testing the 804 area. However, call it late day news, or a short squeeze whatever it was it pushed the market up to new highs, closing higher on all 3 major exchanges. At one glance a closing of +1 on the S&P isn't impressive, but when you break it down intra day you see that we went from uber negative level to a late day gap fill, which is a major win for the bulls on the short term. 

The internals were interesting today. The core sector list finished the day split 8/8 and improved from being 16/0 earlier. The NYSE Breadth finished the day @ 1.1 / 1 negative, after being down as much as 8/1; while the NASDAQ breath went from being 3/1 negative to finishing the day at 2/1 positive. Finally the A/D line was all over the map from down 1750 ticks to closing the day at its highs at -242 ticks. All around interesting swing of things towards the end of the day.

Today on the Marketbeat: And now back to the regular scheduled chop

Market #'s @ Closing Bell:

S&P: +3

DOW: +50

NASDAQ: +2 

RUS2K: +0.6

TSX/S&P: -71

VIX: -1.79

Internals:

Core Sector List: 10/6 to the Bulls

NYSE

BREADTH: 2/1 Bulls

AD LINE: +600 Ticks

NASDAQ

BREADTH: 1.44/1 Bulls 

AD LINE: +400

Today on the Marketbeat: Back to the chop

Well today we saw a bit of what we experienced in Mondays intraday trading. A whole lot of indecision on whether to move up and rally or continue to retrace to prior lows. The S&P (ES) spent the whole day range bound between the 830 and 820 area and the internals did not give it any juice to move either way. 

The internals closed the day slightly bullish, with the AD Lines tacking on +600 & +400 ticks. The Core sector list finished 10 to 6 for the bulls and the breadths closed the day around 2/1 Positive. 

When looking at a longer term chart of the SPY (3Month) we see how it held support today and moved up off it just a bit. If we see some continued bullish action we could rally into Tuesdays big drop. If we break 815 on the ES (82 on SPY) we will go on a sell signal and probably retrace to the prior lows. 

Today on the Marketbeat: What a difference a day Makes

Market #'s @ Closing Bell:

S&P: -382

DOW: - 45

NASDAQ: -65 

RUS2K: -21

TSX/S&P: -251 

VIX: +3.72

Internals:

Core Sector List: 16/0 Bears: Banks down 14%, Builders down 10%

NYSE

BREADTH: 31/1 Bears

AD LINE: -2100

NASDAQ

BREADTH: 13/1 Bears 

AD LINE: -1745

Today on the Marketbeat: What a Difference a day makes...

Rewind to yesterdays chat. I was commenting on how we had a very choppy go no where day. Fast Forward to today's intra-day action and WOW...

The day started off not so bearish, but that all came to a frightening (if your long) halt when Team Obama spoke about the stimulus package. It seems the market did not like what they had to say (or lack of). What also didn't help matters was the Fed speaking around 1pm, giving further juice to the major sell off. On a comatosed bullish note, the ES did manage to hold onto 820 near the close and rallied off of it as investors more than likely collected profits off their shorts. 

Internals were a sea of red, the bulls were no where to be found in today's action, except for minor cases where some areas saw green (and not just the inverses). However, the name of the game today was short, if you stayed short you probably did well. How will we rebound from the biggest loss since the inauguration? only time will tell...

Catch a special Marketbeat: Vision Lesson tonight...

Today on the Marketbeat: Monday Choppage

Market #'s @ Closing Bell:

S&P: +1
DOW: -10
NASDAQ: -0.16
Rus2K: -2
TSX/S&P: +40
$VIX: +.27


Internals:

Core Sector List: Split 8/8

- NYSE -
BREADTH: 1.2/1 Pos
AD LINE: -250 ticks

- NASDAQ -
BREADTH: 1.1/1 Pos
AD LINE: +200 ticks

Today on the Marketbeat: Monday Choppage

Today was a very choppy day due to a lot of indecision in the markets coupled with the Market waiting on Team Obama to move on with the stimulus package. The Futures (ES) spent most of the day range bound between the pivot point and R1. The internals were of no real help as they came in very mixed as well.

We wait for the market to give us some direction in tomorrow's action