Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: -2
DOW: +5
NASDAQ: -1
Rus2K: -3
TSX/S&P: +2.5
$VIX: +0.88


Internals:

Core Sector List: 10/6

- NYSE -
BREADTH: 1.3/1 Neg
AD LINE: -550

- NASDAQ -
BREADTH: 1.6/1 Neg
AD LINE: -660

Today on the Marketbeat:

The market may have looked to go sideways today however when taking a closed look into the intraday swings, the market hit new 52 week highs but failed to hold that, and collapsed into itself as the market now puts in a nice big topping tail, so the question remains...Is this a short term top, are we ready to roll over now?

If that is the case, then a good short term downside target would be 1150 on ES (15 pt swing lower)
If the market breaks that level then 1120 would be the next area of strong support, which would mean a solid 40 pt swing on the ES futures (which represent the $SPX).

The internals told the tale as it showed the real story of Thursday trading. The market totally lost all its internal strength around 1:30 pm and continued to weaken there-after. This along with the topping tail candle on the daily gives the bears a good argument to say they could come out of hibernation. If they do, watch those levels posted above - if the market bounces higher then continue looking for strong stocks.

Happy trading...

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: -6
DOW: -52
NASDAQ: -16
Rus2K: -6.5
TSX/S&P: -68
$VIX: +1.17


Internals:

Core Sector List: 14/2 Bears

- NYSE -
BREADTH: 1.3/1 Neg
AD LINE: -990

- NASDAQ -
BREADTH: 1.3/1 Neg
AD LINE: -750

Today on the Marketbeat:

Three down and two to go this week as the Market closes on this Wednesday March 24th. The tone of the market was quite bearish today, although it wasn't a wash out bearish run like many have been looking for (retracement). The internals were essentially all bearish, but aside from the Core Sector list closing at 14 over 2 tot he bears, the rest of the internals were only slightly in the red.

The one big gain for the bears is that the managed to take out the short term support (1170 on the SPX). With a close below this short term support we could see a further pullback to prior support levels (1150 area). However, the saying 'one day does not make a trend' must come into play here as in the last 2 weeks the market has been up more than 70% of the time, this does also lend tot he idea of a pullback - but until something changes in the market, we have to trade what we see.

Happy Trading.

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: +8
DOW: +103
NASDAQ: +19
Rus2K: +7.5
TSX/S&P: +76
$VIX: -0.57


Internals:

Core Sector List: 15/1

- NYSE -
BREADTH: 3.5/1 Pos
AD LINE: +1370

- NASDAQ -
BREADTH: 4.4/1 Pos
AD LINE: +925

Today on the Marketbeat:

Higher highs, and lower lows were the story of Tuesday trading session. The bulls once again pushed the bears to their limits in early trading, as they chopped it out until the bears gave in and the bulls broke out of 1170 on the SPX. So now as we look to higher levels on the market, we keep 1170 as out quick line in the sand, if the market is going to roll over, that will be the first area to be tested...

The internals today were quite bullish towards the closing bell but spent a good part of the AD LINES closed the day up 1300 on the NYSE and 925 on the NASDAQ. The vix lost another 0.57 pts as it once again hits new 12 mth lows. The bulls are taking this market higher, even if under the hood of the market (fundamentals & data) aren't so great. Keep a keen eye on the market, it is nearing high levels and could pull back, but don't fight the trend.

Happy Trading

Today on the Marketbeat:

Market #'s @ Closing Bell:

S&P: +6
DOW: +43
NASDAQ: +21
Rus2K: +9
TSX/S&P: +38
$VIX: -0.10


Internals:

Core Sector List: 12/4

- NYSE -
BREADTH: 2.7/1
AD LINE: +990

- NASDAQ -
BREADTH: 2.7/1
AD LINE: +760

Today on the Marketbeat:

The market opened up quite lower on the opening bell, most likely due to the news concerning the health care that came out Sunday. The ES Futures opened the day below 1150 support and spent the first hour of trading recapping that gap. Over the lunch hours the market chopped its way higher, stair stepping its way towards the highs of the day around 1162 (on the ES Futures).

The internals were all in the green and the bulls once again flexed their muscles. The core sector list closed the day at its highs, 12 over 4 to the bulls while the breadths both closed the day around 2.7 to 1 to the upside. The Ad Lines both finished the day at respective highs while the vix again lost some ground, down 0.10 pts.

With support held and many stocks showing potential break outs and bounces to the upside, we are keeping our eyes on the support on the SPX of 1155 and the other eye on the 1170 line in the sand that should take the market higher if it is taken out.

Happy Trading