Monday, February 1, 2010

Today on the Marketbeat:




Market #'s @ Closing Bell:

S&P: +15
DOW: +118
NASDAQ: +23
Rus2K: +7
TSX/S&P: +223
$VIX: -2pts


Internals:

Core Sector List: 16/0 Bulls

- NYSE -
BREADTH: 8/1
AD LINE: +1750

- NASDAQ -
BREADTH: 4/1
AD LINE: +730

Today on the Marketbeat:

The bulls bounced back today with some what of a bang, gaping about 7 ES (S&P futures) on the opening bell. This comes as last week saw the market as a whole drop about 1%, as the bears took the market to support levels across the board. The bulls closed the day up 15 pts on the S&P, 118 pts on the Dow, with the VIX down 2 pts. The one chink in the bulls Monday rally is that it took place on lower volume.

The internals were bullish from the open and only got progressively more bullish as the day continued. The Breadth and AD Lines closed near or at their respective highs and the core sector list was pegged 16 to 0 at the close. Definitely a bullish day in price action and under the hood. But like mentioned before, when taking place on lower volume it is something to take into account.

Watch 1090 at possible resistance and 1080 for possible support on the ES futures.
Happy trading

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