Today on theMarketbeat: The Rally finally comes...but will it last?

Market #'s @ Closing Bell:

S&P: +16
DOW:+150
NASDAQ:
Rus2K: +12
TSX/S&P: +203
$VIX: -4.81


Internals:

Core Sector List: 15/1 to the Bulls

- NYSE -
BREADTH: 2.5/1 Pos
AD LINE: +1800

- NASDAQ -
BREADTH: 4.6/1 Pos
AD LINE: +1150

Today on the Marketbeat: The Rally finally comes...but will it last?


As traders across the globe pondered, Where is this short covering rip your face off rally going to come? Today the question has been partially answered as the equity markets rallied well today. The markets got off to a bullish start today, opening on a gap that held within a couple of ticks. Into the lunch hours there was a bit of indecision however the afternoon gave wind to a big wave of bullish buying pressure as investors rallied the markets. Towards the closing bell there was some profit taking as the Futures fell a decent chunk off their highs.

Under the hood, the internals were strongly bullish for most of the day. The Breadth closed the day @ 2.5/1 positive on the NYSE and 4.6/1 positive on the NASDAQ. The Ad Lines added some gains, closing @ 1800 on the NYSE and 1150 on the NASDAQ. The Vix dropped a sizable chunk closing the day down close to 5 points . The core sector rounded out the internals with a bullish closing of 15/1 to the bulls

Today on the Marketbeat: The return of the chop

Market #'s @ Closing Bell:

S&P: -4.5
DOW: -37
NASDAQ: -2
Rus2K: -6.78
TSX/S&P: -73
$VIX: -2.5


Internals:

Core Sector List: 13/3 to the Bears

- NYSE -
BREADTH: 1.2/1 NEG
AD LINE: -1100 Ticks

- NASDAQ -
BREADTH: 1.1/1 Neg
AD LINE: -760 ticks

Today on the Marketbeat: The return of the chop

Well after another washout Monday, the market returned to its old MO...The chop. Starting the day higher but below the days value area high, the markets sold off , breaking through the Value Area low and making the low for the day around the S1 pivot.

After this we saw a strong buy pressure enter the market after lunch pushing the markets higher, breaking the VA low area moving towards the days high. However, the markets could not muster enough support from the Bulls to break the days high. After this the markets dropped fast and hard, moving 12 points in less than 45 minutes.

The internals were bearish today but showed some bullish life as the chop went on. The breadths closed at fairly average levels around 1/1 on both NYSE and NASDAQ, and AD Lines dropped about 700 & 1000 ticks on the NASDAQ & NYSE respectively. One key thing to remember is that the S&P's have made new lows once again which doesn't bode well for bulls. S&P 600?? only time will tell.

Today on the Marketbeat: New lows for the Troubled market

Market #'s @ Closing Bell:

S&P: -34
DOW: -300
NASDAQ: -55
Rus2K: -21
TSX/S&P: -435
$VIX: +6.3


Internals:

Core Sector List: 16/0 to the Bears

- NYSE -
BREADTH: 50/1 Neg
AD LINE: -2740

- NASDAQ -
BREADTH: 28/1 Neg
AD LINE: -2100

Today on the Marketbeat: New lows for the Troubled market


Today the market opened at once again new lows, bringing all the averages down with it. The rest of the day didn't fair much better than the opening as we continued to slide down that slippery slope all day long. With overly bearish internals backing up this move into further fundamental lows we remain vigilant for a Bull cover rally but keep on our toes.