THE CLOSE
Markets ended the day on a high note as the DJIA closed up 143, NAZ +35 and the SPX +17.
Strongest sectors included oils, metals, retail, defense, tech, gaming and small/mid caps; lagging was real estate and financials.
Market internals- the NYSE +1840/ NAZ +1070;
OEX- over 90 winners;
WINNERS- LEH ATI CPB ORCL BHI EMC TXN XOM INTC CBS TYC DIS SLB S;
LOSERS- LTD COF JNJ WB CSC TWX HON;
NDX- 85 WINNERS;
WINNERS- AKAM MICC DISH XMSR WYNN TLAB ROST BIIB UAUA IACI;
LOSERS- MRVL DISCA CTSH MNST PDCO AMLN CELG ADBE INTU EBAY MXIM ERTS CHKP;
IBD 100- 85 WINNERS;
WINNERS- FTK VSEA BCSI VIP WBD GMCR NILE DRYS SNDA CF IRIS;
LOSERS- BTJ MA CPLA TBSI ARD LIFC GEO AVR TRAK SMDI HMSY TRMB OPY;
Markets were looking good and the next level of resistance on the SPX seems to be the 50 day at 1495 and the level of past resistance at 1500. Support still at the 200 day /50% retracement area of about 1465.
The 2 day RSI levels way overbought near the 98 levels on most major indexes and the VIX about 22% below the 10 day SMA- WAY OVERSOLD- OF COURSE IT GOT WAY OVER BOUGHT. Anyhow, it feels like the markets want to go higher and I bet lots of folks will want to buy the next dip back to the 200 day.
posted by DAVID at
4:01 PM
2 Comments:
MVV moving along.Waters still choppy,no rate cut could bring a sigh of disgust.Ben holding up well.
CNBC talking heads getting repetitious.Eric Bseems to have fled FastMoney for Fox.Futures play as Fox still building.If these Gals don't know what they are talking about fire them.Interrupting Guests with stupid comments not entertaining,if anything it puts down woman.Maria great but slides downhill from there to Erin who can't even read monitor.Kudlow gave Her everychance,Cramer chuckles at Her under His breath,we don't want 2nd rate or lot less.
ike
IKE-
CNBC is brutal - Maria tosses up softballs for Angelo et al- Erin yucks it up with Cramer with worthless drivel- Why do we watch- Cause everyone watches and BLOOMBERG to boring.
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