8.14.2007

NOON MARKETS


Markets continue to trade lower although way off their "Sentinel" lows as the prior lows have now been tested.


Sectors displaying some strength include biotech and oil service while brokers, homies, real estate, metals, and retail continue to act poorly.


Winners- NVDA ATVI VRSN WYNN GENZ CHKP XRAY MRVL GILD HAL ALL CVX HON AMGN MDT WFC ROK JNJ BAX COP DWSN CF FSTR PCR OIL.


Losers- VDSI FTK PCP RIO CMED ANDE GEO SMSI CMG VSEC WMT LEH WY GS MS TGT AES COF LAMR SNDK GRMN NTAP MICC SHLD LVLT VRTX.


Internals continue weak with 1,725 net losers on the NYSE and 840 net red on the NAZ.


The NDX with 3/1 down to up while the OEX is worst at 4/1 down to up.


Volatility indexes near the unchanged level as the price of protection remains unchanged despite the 100 point drop on the DJIA.


OK - double bottom /positive divergence is in the books and lets see what happens - I am sure this fish is not the only one watching the charts.

2 Comments:

Blogger Bill said...

P&F chart looks like a triple bottom. Booyah.

3:01 PM  
Anonymous Anonymous said...

Nice salute to the Scooter.
ike

4:34 AM  

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