OPENING LOOK
The markets opened on their lows and have been steadily climbing since. Internals have improved with a current reading of 1,200 more losers than winners.
Best performing sectors include INTERNETS, airlines and RETAIL. GS is higher and the BKX and XBD are flat. Worst performers are oils, metals, small caps and biotechs.
Bad news from retailers, SBUX, MDT, S etc is not crushing the markets and check out AAPL as that one now seems to go up everyday.
Volatility indexes up around 5% but not giving any buy signals so probably a day of watching as maybe more beginning of the month funds to keep a bid under the markets.
No real feel here for direction, but it certaintly feels like the bottom is not going to fall out of the markets.
Best performing sectors include INTERNETS, airlines and RETAIL. GS is higher and the BKX and XBD are flat. Worst performers are oils, metals, small caps and biotechs.
Bad news from retailers, SBUX, MDT, S etc is not crushing the markets and check out AAPL as that one now seems to go up everyday.
Volatility indexes up around 5% but not giving any buy signals so probably a day of watching as maybe more beginning of the month funds to keep a bid under the markets.
No real feel here for direction, but it certaintly feels like the bottom is not going to fall out of the markets.
posted by DAVID at
10:22 AM
1 Comments:
Still smells like a bear trap to me. I'm not acting on it; Who knows if the forces will be able to pull it off.
--jjc
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