MORNING MARKETS
Back from a short vacation and the markets are a bit higher then when I left last Wednesday.
Today, markets are a bit higher with strongest sectors coming from metals, airlines, trannies, biotech, semis, retails, financials and brokers. Leading lower real estate, oil service, emerging markets, internets and utilities.
Strong stocks include ICE CME PAAS SSRI CSC EP AVP CAT and ATI while weakest include MEDI WY F COP NSM HON LAMR CELG RIMM and NIHD.
Market internals are flattish with about 650 net green on the NYSE and NAZ.
The OEX/NDX combo are a bit better with 3 up to 2 down. The SPX, slightly less than 3/2 up to down.
Volatility indexes have gone back down and now trade about 5% below their 10 day SMA's.
My target on the SPX remains at the 1,415 level; half way between the recent high and low. I will rethink it when/if we get there.
posted by DAVID at
11:15 AM
3 Comments:
Hope you caught a lot of fish. Thinking 1415 is a short opp?
Welcome back! The markets looked a little confusing to me without your insightful comments. :)
Aj.
Actually was in Arizona - vacationing- no fishing this time - but I do like the picture.
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