HERE WE GO AGAIN
The market continues to act well as it digested the Presidential Leak sell off (according to CNBC anyway) in a matter of minutes.
The SPY got back to 131.21 and is now back under 131 at 130.88. The resistance at 131 seems like a brick wall and with the market internals never confirming, I expect more churning ahead.
The QQQQ is trading better and had reached the 42.9 level this morning, but has now backed down to 42.8.
The Metals, Internets and Semis are the leading sectors. The Biotech sector, which has been weak for weeks, is trailing again today with the interest rate sectors such as housing and Reits also bringing up the rear thanks to the rise in the 10 Year Bond which is hanging tough at the 4.9 % range.
The Volatility Indexes have rolled back over and any thoughts about VIX teenager has again been become a distant memory (for today anyway).
The SPY got back to 131.21 and is now back under 131 at 130.88. The resistance at 131 seems like a brick wall and with the market internals never confirming, I expect more churning ahead.
The QQQQ is trading better and had reached the 42.9 level this morning, but has now backed down to 42.8.
The Metals, Internets and Semis are the leading sectors. The Biotech sector, which has been weak for weeks, is trailing again today with the interest rate sectors such as housing and Reits also bringing up the rear thanks to the rise in the 10 Year Bond which is hanging tough at the 4.9 % range.
The Volatility Indexes have rolled back over and any thoughts about VIX teenager has again been become a distant memory (for today anyway).
posted by DAVID at
2:40 PM
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