Today on the Marketbeat: The Bulls are back on Wallstreet

Market #'s @ Closing Bell:

S&P: +29
DOW: +240
NASDAQ: +54
Rus2K: +24
TSX/S&P: -
$VIX: -2.59


Internals:

Core Sector List: 16/0 Bulls

- NYSE -
BREADTH: 18/1
AD LINE: 2500

- NASDAQ -
BREADTH: 7.6/1
AD LINE: 1700

Today on the Marketbeat: The Bulls are back on Wallstreet


Well the short covering rally has been in and out of peoples ears and mouths for a little while now, and it seems that the market has finally got it. Three days in a row where the market has finished higher and investors capped it off with a solid day around the equity markets. The S&P futures got off to a slightly lower start but kept the bullish trend for most of the day churning its way higher on the Futures, and with full bullish backup from the internals, which is what you wanna see on a rally day. The markets also took back some key psychological levels like 7000 on the Dow and 740 on the S&P. It also marked the break of the downtrends on most of the major markets (SPY,DIA, IYR)

Under the hood the internals gave the price action something to brag about with the core sector list finishing 16/0 to the Bulls and the NYSE Breathe finishing a solid 18/1 to the bulls, 8/1 on the NASDAQ. Rounding out these numbers the ad lines both added a solid number closing +2500 and +1800 on the NYSE & NASDAQ and the VIX dropped 2.6 pts.

If we could see a continuation into the weekend it could mark a short term bullish run, or a good spot to enter new shorts, either way keep your eyes on the price action and volume and watch to see if the S&P (/ES) can hold 740. Take care and happy Trading

Today on theMarketbeat: Indecision rules the day

Market #'s @ Closing Bell:

S&P: +1.5
DOW: +3
NASDAQ: +13
Rus2K:
TSX/S&P:
$VIX:


Internals:

Core Sector List: 8/8 SPLIT, Gold up, Crude down

- NYSE -
BREADTH: 1.6/1 Pos
AD LINE: +550 ticks

- NASDAQ -
BREADTH: 2.4/1 Pos
AD LINE: +50 ticks

Today on the Marketbeat: Indecision rules the day

With the closing bell ringing, today was one of the more exciting price action days in a little while. After yesterday's bear market rally that brought the equity markets up more than 3% across the board, today looked to continue that rally and starting this morning it looked like we were going to continue to run to the upside, with the ES futures ripping off the opening bell hitting the days high at 732. This however turned out to be the high for the day and the beginning of the chop fest we call Wednesday March 11th. After rolling over from this high, the futures markets as well as the equity markets trended softly to the downside, retracing most of their gains from today, cue in the afternoon cycle and the ES ripped back up almost to the days highs stopping short around the R1 level (727).

Under the hood was the story that the price action told but in greater detail, a whole lot of indecision in the markets with the Core Sector list finishing the day dead even, split 8/8 with gold gaining on the day and crude oil finishing lower. The Ad lines finished with gains but very minimal at that while the Breadths fared about the same closing the day at 1.6 and 2.4 to 1 positive on the NYSE and NASDAQ respectively

Today on the Marketbeat: Monday Market in the red

Market #'s @ Closing Bell:

S&P: -7
DOW: -80
NASDAQ: -25
Rus2K: -7.44
TSX/S&P: -47
$VIX: +0.44


Internals:

Core Sector List: 12/4 Bears

- NYSE -
BREADTH: 1.2/1 Neg
AD LINE: -1300

- NASDAQ -
BREADTH: 2.8/1 Neg
AD LINE: -1160

Today on the Marketbeat: Monday Market in the Red

With Bullish end to last weeks price action, the market looked like it was going to run on those bulls to start off this week, however that was a short lived theme in today's intraday action. The market started the day gaping down from Fridays close but showing initial strength as it ripped past Fridays close and to a solid level for a market with this much on its back, falling a tick short of 695 on the ES's. This turned out to be the high point of the day across the board as once it failed to print 695 the market nose dived for the rest of the day. Despite the bulls false run today, the markets down turn was not a messy one or 'off of a cliff' situation. After the price action turned over it followed a steady trend line to the downside providing many solid intra-day shorting opportunities.

Under the hood the market printed bearish internals for the day however they were not as intensely bearish as the price action might of indicated. The Breadths closed the day at 1.2/1 and 2.8/1 Negative on the NYSE and NASDAQ respectively. The Ad lines both tacked on some losses (-1300 & -1100), and rounding them our the Core sector list closed the day at 12/4 to the bears.