Today on the Marketbeat: A BREAKOUT!!...wait..wait..no just more chop

Market #'s @ Closing Bell:

S&P: +6
DOW: +32
NASDAQ: +15
Rus2K: +5
TSX/S&P: +119
$VIX: -0.85


Internals:

Core Sector List: 11/5

- NYSE -
BREADTH: 1.9/1 Pos
AD LINE: 700

- NASDAQ -
BREADTH: 1.8/1 Pos
AD LINE: 650

Today on the Marketbeat: A BREAKOUT!!...wait..wait..no just more chop

If one were to only watch the market until lunch today then this person would have thought the bulls finally stepped up and broke out to new highs... However, since we here at the Marketbeat have the luxary of watching the full day, we know now, that isn't the case.

The bulls made an early run at the 950 resistance that has been hampering the market from new highs all week. Around 1:20 pm the /ES punched out to 952.5, but didn't stay around long as that marked the days intraday high and the market backed off steadily after this point. The Market closed near the lows/opening price of the day - further pushing to the idea that the bullish run could be in for a bearish pullback.

We will stay cautiously bullish until 915 on the S&P Futures is taken out... Happy Trading!
Daiz'on

Today on the Marketbeat: Roller Coaster Market

Market #'s @ Closing Bell:

S&P: -3
DOW: -24
NASDAQ: -7
Rus2K: -6
TSX/S&P: +24
$VIX: +0.56


Internals:

Core Sector List: 11/5

- NYSE -
BREADTH: 1.4/1 Neg
AD LINE: -270

- NASDAQ -
BREADTH: 1.1/1 Neg
AD LINE: -580

Today on the Marketbeat: Roller Coaster Market: Watch 915 on the /ES

After Tuesday's lack luster market day, with a market range of about 10 ES points...FUNNNN, Wednesday packed a big wallop. The Market rallied in the open up almost 10 points on the ES, with no apparent news or internal strength to keep it up. We all watched as the market fell apart soon there after as the internals switched from green to red in the first hour of trading and the market soon then followed plunging down triple digits on the Dow Jones. But, into the close as has been the trend lately, the bulls stepped in off the lows and rallied the equity markets back near break even on the day, leaving many a personal investor scratching their head.

The bottom line is this, the markets are still caught in a consolidation channel, watch points 950 and 915 on the /ES and you will get a better idea on how its been playing out for the past 8 trading days. These should be big lines in the sand for any swing trader (or longer) and until one of these levels is breached, we should remain neutral to cautious. Large moves usually follow these consolidation patterns, and as of late those big moves have been to the downside so whether you are bullish or bearish - be cautious in the coming days...

Today on the Marketbeat: Down or Up?

Market #'s @ Closing Bell:

S&P: -1
DOW: +1
NASDAQ: -7
Rus2K: -4
TSX/S&P: -30
$VIX: -0.02


Internals:
Today's Internals were: BEARISH

Core Sector List: 10/6 tot he bears

- NYSE -
BREADTH: 1.3/1 Neg
AD LINE: -775

- NASDAQ -
BREADTH: 1.3/1 Neg
AD LINE: -610

Today on the Marketbeat: Up or Down?

Wow what a way to cap off the week and my return to the Marketbeat. As you might of noticed its been very quiet around here as of late and it is not without reason. I recently have been a bit under the radar concerning my trading game. So I took some time off to get my head back in the game. Sometimes the best thing a trader can do is walk away from it for a lil while and get your bearings.

Moving on to the market, today the market started the week off with a solid swing to the downside, taking the price action very close to the Support Pivot #2. However a large, volume packed surge right after the 3pm reversal left all the Bears scrambling to short, while those waiting to get long got long in a hurry. The day ended off with some profit taking that left the top line figures in the red for the day with the exception of the Dow that gained a measly point.

The internals were mostly bearish throughout the day but screamed bullish while the buying pressure hit. The day closed with the internals sitting bearish but not so bearish in comparison to how most of the day went.

It is going to be a slow week announcement/news wise as most large cap names have released earnings already so watch the volume with any move we see this week. today's volume wasn't that big, so it makes the day more volatile.