Markets continue to trade lower but some interesting action can still be found. The DJIA -66, NAZ -13 and SPX -9. The NDX is the strongest major index trading flat as AMAT AMGN AMZN CSCO EBAY GOOG INTC MSFT SNDK and YHOO all trade green.

Other strong sectors include airlines, biotech, metals and internets; weak links found in the oil patch, brokers, small caps, homies and small cap value.

Market internals still ugly on the NYSE at red 2,000 and red 1,500 on the NAZ.

The NDX internals far better at even while the OEX internals are 3/7 up to down.

Big banks trading ugly also as C JPM WFC BAC are all red;

Biotechs all green led by BIIB CELG DNA GENZ and AMGN;

Brokers bad but seem to be improving as GS is only down a buck;

Gaming mainly lower but MGM may be back in buy territory;

DJ in the media area continues to trade as if the deal is dead; I suspect they come to their senses and sell but in the mean time;

Oils all red with the exception of RIG as crude trades as if there will never be another green day;

The TRIN is trading at .75 indicating that a lot of the volume is flowing to advancing stocks as the losers are trouncing the winners over all;

Volatility indexes also coming back in as the markets try to climb higher;


Anonymous Anonymous said...

Do you own any AAPL and any thoughts before earnings---technically?

1:12 PM  
Blogger DAVID said...

I sold my AAPL on Friday- thanks to a shrewd friend - Nothing would surprise me on the earnings- sorry

2:51 PM  

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