Today on the Marketbeat:

From

Market #'s @ Closing Bell:

S&P: +10.5
DOW: +70
NASDAQ: +20
Rus2K: +6
TSX/S&P: + 19
$VIX: -1.22


Internals:

Core Sector List: 16/0

- NYSE -
BREADTH: 5/1 Pos
AD LINE: 1300

- NASDAQ -
BREADTH: 2.4/1 Pos
AD LINE: 780

Today on the Marketbeat: 4 Down, 1 to go

With 4 days down this week, 1 day remains as options expiry day draws near. As is somewhat common knowledge in the active trader world, options expiry week is often times very volatile as the options for that front month expire. This week has been somewhat volatile, starting lower and bouncing with some strength off Monday's lows. The Internals helps back up today's rally higher as they all closed in the green - with the core sector list 16 to 0 on the bulls side, as well as both breadths well into bullish numbers.

Just because the market has guarded support levels as of late does not guarantee that it will continue to climb, however, when the internals back up the moves and things still point to the upside being the path of least resistance, one must stay with the flow. Put:Call ratios are currently favouring the bulls so until something changes we remain bullish.

Happy Trading

Today on the Marketbeat:

From

Market #'s @ Closing Bell:

S&P: +7
DOW: +61
NASDAQ: +13
Rus2K: +4.6
TSX/S&P: +2.71
$VIX: +0.24


Internals:

Core Sector List: 12/4

- NYSE -
BREADTH: 1.4
AD LINE: +700

- NASDAQ -
BREADTH: 2.5
AD LINE: +745

Today on the Marketbeat: Another Wacky Wednesday

With a huge downward swing on Monday, then a reversal yesterday, almost anything could and DID happen today. First the market gaps down about 12 ES points, but after the 5 min low it reversed and climbed 20 pts before retracing at the 3pm reversal time. There was alot of out of nowhere spikes today that basically are adding to this being a traders market. Their are plenty of intraday plays to take, you just have to be on them and take the trigger, I however have missed some good plays this week but the buffet is always here.

The internals started the day out very bearish but as the market rose the internals followed finally evening up with the price action. The VIX closed up despite the market closing higher for the day, which might be partly due to this week being options expiry week, so remember if you are holding a position with an August front month, be sure to liquidate if you don't want any surprises.

Happy Trading

Today on the Marketbeat:

From

Market #'s @ Closing Bell:

S&P: 10
DOW: 81
NASDAQ: 25
Rus2K:
TSX/S&P:
$VIX: -1.70


Internals:

Core Sector List: 15/1

- NYSE -
BREADTH: 5.5/1
AD LINE: 1771

- NASDAQ -
BREADTH: 4.5/1
AD LINE: 1260

Today on the Marketbeat: The Market rallies, but is it enough?

After Monday's sell-off, Traders were looking for the market to either continue or bounce today, and since the markets seemed to have hit their low early in the session, traders were looking for a bounce. The Markets opened up modestly higher and slowly pushed up towards the old support of 990 on the ES futures. However that old resistance turned support turned back into resistance today as the S&P futures were not able to climb over 990 on the dot. So what do we take from this? We could take it that 990 might act as a short term high lever we have to break over before the market continue higher. Or it could just mean the market is good where it is now and continue to flounder around. Lastly it could mean that the 990 level will act as a strong resistance and the market could slide lower. Three posibilities, but let the market show u its hand first

Unusual Options: TRLG sept 22.5 calls / SLE: jan 10 calls / MTW: Jan 2001 - 30k jan 15 calls / IAT: oct 18 puts /

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: -24
DOW: -186
NASDAQ: -55
Rus2K: -16
TSX/S&P: -314
$VIX: +4.10


Internals:

Core Sector List: 16/0

- NYSE -
BREADTH: 15/1 Neg
AD LINE: -2400

- NASDAQ -
BREADTH: 11/1 Neg
AD LINE: -1750

Today on the Marketbeat: The corrections finally comes...

The correction that many in the investor world have been watching and positioning for over the last month and a half of the bull rally has seemingly began. Last night I checked out the futures around 1am, and noticed that the markets were down quiet the sizable amont. With this in mind i slept peacefully knowing I had no resting long positions over the weekend. By 9am the futures were set to open 20 points lower from Fridays close, could this be the correction everyone and their mother has been squawking about?

Well one clue to whether this is the beginning of another downward leg is that the groundhog day effect this bull summer rally has pulled, going lower all day then the bulls stepping in towards the close was no where in site today. In fact the ES futures made new lows going into the close.

So where does this leave us now? we have lost important levels of support most noticeably the 990 level on the SPX. So we have to react to what happens, if the market goes lower, trade defensive, look for weak stocks that maybe need to correct or strong stocks that have been flying. Adversely,if the bulls step back in find stocks near support ready to try another bounce. Just keep it simple and trade your plan

Happy Trading