Today on the Marketbeat: The rally Trap Door?

Market #'s @ Closing Bell:

S&P: +11.5
DOW: +83
NASDAQ: +16.5
Rus2K: +9
TSX/S&P: +203
$VIX: -0.30


Internals:

Core Sector List: 13/3

- NYSE -
BREADTH: 2.3/1
AD LINE: 1700

- NASDAQ -
BREADTH: 1.7
AD LINE: 1000

Today on the Marketbeat: The Rally Trap Door?

The market took off this morning rallying on the open, and not looking back after that. Opening @ 983 on the ES (1pt over the line in the sand), and took about 20 minutes before taking off to the upside, resting about 16 Pt's up on the ES futures for most of the day. However, some concerns have been risen with the fashion in which the market closed today. Eyebrows have been raised as the market stumbled off the highs into the close, we've all witnessed a Market that sells off into the close after a big up day, however it was more of how the market sold off into the close that is raising concerns. One look at the markets price action today and you would see the bulk of the volume came in the opening hour and the closing hour...Some rambling from the shadow trader (www.shadowtrader.net) mentioned "could this be the markets trap drop, push it up get everyone on board then take the floor out from under them" now time will only tell so if your long in this market, stay nimble and honor your stops.

Under the hood, the internals also gave reason for concern as when the market sold off into the close the internals were hitting daily highs, and not stopping. The issue with this as also mentioned by the Shadow Trader, is that the internals are what we personal investors (as well as big time companies) use to gauge what stance we want to hold. If the internals aren't matching up with the markets price action then they will become useless and there is a hint of a possibility that they could be manipulated.

Friday is also the last day of the month, so watch out anything can happen...

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: -4.5
DOW: -26
NASDAQ: -7.5
Rus2K: -2.5
TSX/S&P: -101
$VIX: +0.73


Internals:

Core Sector List: 11/5 to the Bears

- NYSE -
BREADTH: 1.4/1 Neg
AD LINE: -650

- NASDAQ -
BREADTH: 1.2/1 Neg
AD LINE: -620

Today on the Marketbeat:

New area to watch - 965 to 982 on the SPX / ES. This is the area in the sand where the market could move Up or to the Downside. Today was a bit more of what we witnessed yesterday aka Chop. The market had a bearish tone today, a lil ore so than that of yesterdays intra day trading actions. The Market was down most of the day, with a slight rally towards the end of the session most likely due to profit taking.

Under the hood the market was mostly bearish, with the core sector list closing the day 11 over 5 to the bears. The Ad Lines were both down 600 ticks or more while the Breadths closed the day down a modest 1.4 and 1.2 to 1 negative.

As mentioned at the top of this entry, the new area to watch on the S&P is 965 (to the downside) and 982 (tot he upside) if either of these levels are breached with enough force (read: volume) then the market should continue to either direction. For now we might continue to witness more chop. Stay Nimble and happy Trading

Today on the Marketbeat: The Bulls wont let it drop

Market #'s @ Closing Bell:

S&P: -2.5
DOW: -11
NASDAQ: +7
Rus2K: +1
TSX/S&P: -152
$VIX: +0.67


Internals:

Core Sector List: 9/7 Bears

- NYSE -
BREADTH: 1/1 Neg
AD LINE: -400

- NASDAQ -
BREADTH: 1.5/1 Pos
AD LINE: +200

Today on the Marketbeat:

Today was an interesting day in terms of what sentiment is going to lead the market in the coming days to weeks. With so many people looking for the market to drop, many investors thought today would have been a great start to the correction. However, just like has happened so many times the Bears tried to push the market lower, the bulls stepped in towards the afternoon hours to propel the price levels higher to finish just slightly lower after being down close to triple digits on the Dow.

The internals were a confusing bunch of numbers with the bears looking like they had the power under the hood. But with the breadths never really going negative the market had trouble holding the lows of the days as the bulls rallied it into the close

A lot of earnings names and economic data in the coming days, here's a couple:

• HES / GD / Norfolk southern / PENN / SAP (options activity) / SO / WIN /
• Durable Orders @ 8:30 / Crude Inventories 10:30 / Fed Beige Book 1pm

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: +3
DOW: +15
NASDAQ: -3
Rus2K: +0.23
TSX/S&P: +35
$VIX: +1.43


Internals:

Core Sector List: 9/7 Bulls

- NYSE -
BREADTH: 1.7/1
AD LINE: 870

- NASDAQ -
BREADTH: 2/1
AD LINE: 350

Today on the Marketbeat: Another high, but how high can it go?

The major markets traded sideways for most of the day, with a slight bullish burst towards the end of the session. It seems like the bullish trend keeps continuing despite the fact almost everyone and their grandmother is imagining a bearish correction coming, but with the market seemimgly does not want to give up the gains its been wroking so hard for.

If the market does correct itself, we could see a solid 25-30 ES point drop to settle things out. Then we could see a continuation up to the 1000 line on the ES. If not we could see a continuation to 1000 but with the way the market has been on a tear it seems somewhat of a correction could be more likely that some profit taking would take place.