HIGHER OPEN
Markets are higher on the heels of good news from C- take out news on SLM and good action in Europe. The DJIA is about 120 points away from an all time high and the SPX is at a new 7 year high.
Strong sectors include banks, brokers, non US real estate, homies, airlines, small cap value, software, small caps, trannies and retail. To the downside - semis, US real estate, oils and some gaming.
Key stocks are primarily higher as MER GS MS LEH C JPM and GOOG are all acting well. To the downside, KLAC SMH and KSS.
Market internals are very bullish with a net 1,600 green on the NYSE and 1,230 green on the NAZ.
The OEX/NDX duo are about 4/1 green to red while the SPX is just a hair under.
Volatility indexes back to oversold/sell levels of about 10% under their respective 10 day SMA's.
On days when the internals and the financials are strong, it usually pays to daytrade and buy dips. That is what I intend to do today.
posted by DAVID at
10:04 AM
4 Comments:
Best looking red head on TV.What's your entry strategy for a scalp?
I like to use the pivot points on either YM ES SPX
Today the 20 day moving average has moved to the highest level it has seen in more than a year. In particular it is higher than at any time since the June 14 low in 2006. Based on these observations this means that the market averages will trend higher for a least two more months and perhaps for as many as four more months. In other words, a bull market top is not likely until mid-June at the
The daily count of the number of issues traded on the New York Stock Exchange which advance in price. The previous post in reference to the 20 day moving average of this number.
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