DRIP UP

The slow drip up continues as the market internals continue to show a bullish posture as there are more than 1,300 winners over losers. The DJIA is also showing bullish with 22 winners to 8 losers. The standouts are DIS UTX MRK BA and AXP while the losers are INTC DD AA MMM and XOM.

The markets ran into a bit of resistance this morning at the initial resistance level of the QQQQ. I suggest that anyone who wants to trade the pivot points have the charts of the DIA QQQQ and SPX/ES/SPY charts up with the pivots.

Leading sectors continue to be brokers, drugs, bios, internets and reits. Losers are oils and metals and how bad is this INTC and how low can it go as it continues to be the worst performing DOW stock. Is there something seriously wrong that the markets are trying to tell us?

Two other things, check this link to Trader Mike and his computer setup and check this link to Ben Bernanke and why the markets are maybe just a bit leery.