So just as Kramer declares the FED got it right because the markets are higher- well you guessed it - we closed well off the best levels on the NAZ/SPX and flattish on the DJIA.

Strong sectors included semis, shipping, tech, retail and biotech while ags, defense, oils and metals lagged.

Note however the energy patch came way off the lows and actually flipped to green at the afternoon highs.

Market internals closed near the worse levels of the day with 1700 net winners on the NYSE/NAZ;

VIX- lower by 6% and about 4% below the SMA 10;

Hopefully some folks made more than I did on the DIG/XLE long- and for now looking at a SKF long for tomorrow as I suspect the game remains the same.
And of course with all the trading above 1325 (most of the day) we close below as it becomes pretty pretty tough resistance.


Anonymous Anonymous said...

you sure 1300 is going to hold? I told you RIMM is going to break QQQQ's back... DOW future already took out Jan/March low... so new low here we come... I think this bear market is not going to end until SPX hit around 1050 and DOW takes out 10,000 probably around 9500...

7:58 AM  

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