Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: -3
DOW: -7
NASDAQ: -5.75
Rus2K: -2
TSX/S&P: -66
$VIX: +0.06


Internals:

Core Sector List: 12/4 Bears

- NYSE -
BREADTH: 1.5/1 Neg
AD LINE: -370

- NASDAQ -
BREADTH: 2/1 Neg
AD LINE: -12

Today on the Marketbeat:

Well if this is the pullback that investors have been looking for, then the bulls are very strong. But this is probably not that time. The market closed slightly bearish today, as the 9 straight days of bullish higher closes comes to an end.

The internals finished the day barely in the red, but they did back up the price action which finished slightly in the red as well. Tomorrow is options expiry day so expect some choppiness in the afternoon

Happy Trading

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: +3
DOW: +56
NASDAQ: +9
Rus2K: +3.8
TSX/S&P: +123
$VIX: -0.54


Internals:

Core Sector List: 10/6

- NYSE -
BREADTH: 2.3/1
AD LINE: 1150

- NASDAQ -
BREADTH: 1.8/1
AD LINE: 800

Today on the Marketbeat:

8 Straight days with Higher highs on the $SPX. When will the retracement occur?. Today the market slugged its way higher as once again the $SPX is seeing higher highs and continues to be bullish in the face of overextension. The Shadowtrader, Peter Reznichek mentioend today that the market likes to cycle in odd numbers, so if we saw another Higher High tomorrow than it could mark a possible short term top in this latest run up.

The internals really helped keep the emotions at bay today as they led the way allday showing decent bullish levels as most top line figures hit new highs once more. But the bottomline has to be stay nimble, when the market gives us a signal that something has changed we adjust, until then the trend is your friend.

Happy Trading

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: +6.5
DOW: +28
NASDAQ: +7.5
Rus2K: +5.6
TSX/S&P: +70
$VIX: -0.31


Internals:

Core Sector List: 14/2

- NYSE -
BREADTH: 2.5/1 Pos
AD LINE: +1000

- NASDAQ -
BREADTH: 2/1 Pos
AD LINE: +800

Today on the Marketbeat: Another Manic Monday

Well as the Futures got to trading Sunday night they looked like the market was going to see a decent pullback, and come 9:30 am they just did that, opening down 10 pts on the S&P ES Futures. The Market did fill this gap lower around 11am and it did so in a slower fashion than as of late. This gives me the idea that these types of moves might just be the "pullbacks" we all are watching for. Keeping in mind that this market of late is a bullish market. When the market drops overnight, the bulls seem to have a certain level that they are defending and push it up after throughout the day.

What can this piece of information tell us? well it could tell us that we need to be aware of the fact that in this market the pullbacks that we are looking to buy might be intraday pullbacks and that we need to really dismiss any kind of opinion we attach to the price action we see, and trade it for what it is. That means if and when a longer deeper pullback occur, then sell into it or take profits off the table at that point, however, if your looking for pullbacks to buy into - watch how the market guards the support levels, if they cant take them out then that just might be the extent of the pullback we see in that day.

Here's some notes

TICKS - Looking for extremes (+/- 1000), Distributions - where are the values being distributed (above or below zero line) / UNH (3yrs chart): bullish ascending triangle - 30 actions point to long side / WYNN on pullback / AKAM at action point watch / QSFT: riding the 20ma, if breaks below 20, could enter a buy zone / CRR: buy on pullback after 3x top breakout / RL: buy on break or pullback

Happy Trading