Markets closed the day in the middle of the range as they seemed to trade inversely to crude almost tick for tick during the pit trading session-

The DJIA closed +86, NAZ +25 and SPX +7.

Also note the rejection of the SPX right at the 1300 level- despite the lower crude- and that appears to be an important level to watch.

Strong sectors- gaming, homies, banks, shipping and financials while metals, energy, utils and steel.

NYSE- 800 net winners;

NAZ- 560 net winners;

VIX- down 5% at/near 20.45;

Very light volume yet again with up about 2X the down;

Financials were yoyoing most of the day with a lack luster performance from GS- and strong action from CME ICE NDAQ NYX BAC JPM MTB USB WB WFC-

Still looking for lower prices in the short term and a test of the 1255 level on the SPX- and still out performing action in the NDX/NAZ/RUT - SPX the big under performer today - probably due to the down trending energy group.


Post a Comment

Subscribe to Post Comments [Atom]

<< Home