AFTERNOON LOOK
The markets continue higher but some dark clouds certaintly look like they are about to set in on the days trading. NYSE breath is still bullish with 600 more issues higher than lower, but the NAZ breath is unchanged with the NAZ IWM and SMH all flat to lower. So it is all big caps today and they may not be a good thing for the near term.
The 10 year Bond is back down to the 5.19% area and that is probably adding jig to the NYSE internals.
Sector leaders today include metals, drugs, brokers and retailers. Oils are mixed with transports and internets bringing up the rear.
As mentioned earlier, the 50 day SMA on the SPX is probably causing some selling today and I really don't expect much of a ramp into the end of the day as many will be nervous about tomrorrow's job numbers.
The 10 year Bond is back down to the 5.19% area and that is probably adding jig to the NYSE internals.
Sector leaders today include metals, drugs, brokers and retailers. Oils are mixed with transports and internets bringing up the rear.
As mentioned earlier, the 50 day SMA on the SPX is probably causing some selling today and I really don't expect much of a ramp into the end of the day as many will be nervous about tomrorrow's job numbers.
posted by DAVID at
2:10 PM
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