Stop Trading with Cramer today should be quite interesting as he really has nothing working. New Bull market, nah SP 500 red. Forget the NAZ, nah QQQQ and SMH green. Bird Flu stocks from yesterday, nah red.
Anyhow, the SPY got up to its daily resistance level at around 131 and turned tail and plunged right back through its Pivot Point at 130.5. Not a pretty day so far for the "buy em higher sell em lower crowd (it usually isn't). "
Looking to the major sectors, the SEMI's are leading on the green side and most everything else is mixed to leaning slightly one way or the other. GOOG is standing out red by 5 beaners and my other favorite GS red by about a beaner. Oils are slightly higher and the metals are a bit lower even in light of the positive news for the Silver ETF.
The Volatility Sisters are lower and that is not giving the bulls a lot of hope. The yield on the 10 year Bond has steadily climbed higher all day now up to 4.73%. I warned that the higher rate may be a problem in an earlier post.
The market internals have gone back to red with 1,100 more losers than winners after briefly turning green.