STEADY GOING
Markets continue to trade at/near their highs with the DJIA +119, NAZ +30 and SPX +13.
Strong sectors include airlines, gaming, internets, brokers, homies, aussies, retail, metals, tech and biotech. Laggards, no longer in the oil patch as both XLE and OIH have flipped to green and just about all other sectors in the green with utilities lagging.
Key stocks all green with the exception of ICE and BOT. GOOG /MER /XBD all very strong.
Strong stocks include UAUA CTSH LINTA INFY VRTX RIMM AKAM CSC TWX CSCO HD AA and IP.
Weakest links include AES KFT WMB BMY PEP XMSR SIRI PTEN LOGI SYMC CHKP and SUNW.
Market internals continue near the same level with net 1,600 green on the NYSE and net 1,000 green on the NAZ.
OEX/SPX/NDX all with about 9 up to each 1 down.
Volatilities indexes have sunk more than 10% and now trade about 5% below their respective 10 day SMA's.
Seems like just about everyone is now watching the 1,440 level on the SPX and it is only two points away as I type. So just a heads up as it was the prior high and a key Fib retracement level. Traders will probably look to take profits as trading for the next two days will probably be slow.
posted by DAVID at
1:20 PM
1 Comments:
David,
Looking at the Daily SP500 chart on 4-03 Tuesday 8:30am EDT the high was 1441.40. But your 10:30am post for that day said it was rejected?
Please, could you take a second look, maybe the dates are wrong on your post? see below
4.03.2007
STEADY GOING
Seems like just about everyone is now watching the 1,440 level on the SPX and it is only two points away as I type. So just a heads up as it was the prior high and a key Fib retracement level. Traders will probably look to take profits as trading for the next two days will probably be slow.posted by DAVID @ 1:20 PM
Post a Comment
Subscribe to Post Comments [Atom]
<< Home