Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: -27
DOW: -203
NASDAQ: -65
Rus2K: -
TSX/S&P: -
$VIX: +2.80


Internals:

Core Sector List: 16/0 Neg

- NYSE -
BREADTH: 19/1 Neg
AD LINE: -2000

- NASDAQ -
BREADTH: 13/1 Neg
AD LINE: -1500

Today on the Marketbeat:

Today the markets finally gave into the selling pressure as the equity markets fell over 2% across the board. The sell off was initially lead by bad home sales numbers and continued as more data came out that investors clearly didn't like. The market was bearish for the whole day as internals kept going lower even when the market was just going sideways, up until the market caught up and hit new lows going into the closing bell. With a sea of red on all sectors today was the day the bears have been waiting for, that mythical pullback that everyone has been expecting for weeks (months for some).

We'll see if the selling pressure continues into the weekend or if the markets will find a level for the bulls to buy back into, but with the amount of negative internals and red across the board it seems were more likely to chop around than see another huge sell off.

Happy Trading

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: -3
DOW: -30
NASDAQ: -1
Rus2K:
TSX/S&P:
$VIX: +0.62


Internals:

Core Sector List: 13/3 Neg

- NYSE -
BREADTH: 1.7/1 Neg
AD LINE: -525

- NASDAQ -
BREADTH: 1.2/1 Pos
AD LINE: -700

Today on the Marketbeat: Another day of Chop

Today the equity markets got off to a bearish start. But once again the day ended up in a buy/sell chop fest with the indices closing in the red slightly. Not much to get into after today, there is still more economic data to be released this week so keep your eyes and fingers nimble for any change in the potential trend...

Happy Trading

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: -2.5
DOW: -47
NASDAQ: -10
Rus2K: -2.3
TSX/S&P: +50
$VIX: +0.17


Internals:

Core Sector List: 10/6 NEG

- NYSE -
BREADTH: 1/1 Equal
AD LINE: -100

- NASDAQ -
BREADTH: 1.5/1 Neg
AD LINE: -400

Today on the Marketbeat:

Well after Monday's epic technical bounce off the MA, Tuesday lacked in any sort of follow up to the up or downside as many traders got faked out before the consumer sales report was released around 10:30 am. Stocks were bought up prior but sold off with a vengeance once the #'s failed to inspire anyone to keep buying and prices continued to chop around after until the close.

Some say that the window dressing that has been done by many money managers who may have missed out on the big summer rally could be finally over and we could now see how deep the pullback could be. Is that going to happen? Well no one knows until something happens, right now we are still remaining cautiously bearish, with one eye scoping out bearish ideas in the case of another nice drop to the downside.

With internals failing to inspire anything the day closed near the lows and short term investors like myself are left at the proverbial drawing board to find some solid set-ups...

Stay nimble
Happy Trading

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: +18
DOW: +124
NASDAQ: +40
Rus2K:
TSX/S&P:
$VIX: -0.64


Internals:

Core Sector List: 16/0

- NYSE -
BREADTH: 5.8/1
AD LINE: +1350

- NASDAQ -
BREADTH: 3/1
AD LINE: +1000

Today on the Marketbeat: The Rally Continues...

So after an extended 2 day pullback across the equity markets, Monday turned out to show that the 20 day MA would prove to be at least short term support as stocks across the board rallied today, up as much as 2% in the case of the NASDAQ.

The reasons behind today's rally could be just a simple technical bounce, as the rally did take place on smaller volume, but that didn't seem to phase any investors from pushing stocks into the green today. The internals were a seas of green as the core sector list finished the day @ 16/0 to the bulls and the Breadths and Ad Lines closed the day near pegging the highs to the Bull side...

There is still alot of economic data to come out this week so almost anything can happen from here on in. But by the looks of how the price action finished near the highs one could imagine that the rally might continue at least to the prior highs before any serious resistance steps in.

Happy Trading