7.08.2009

MORNING SINK


Markets are open and trading with the SPX near the unchanged line at 880 while the NAZ is down 4 at 1742.


Strongest sectors- drugs, internets, biotech, retail and consumers while metals, telecom, semis, real estate and trannies lag.


NYSE-700 net losers;

NAZ- 500 net losers;

SPX 200 GREEN;

NDX- 30 GREEN;


VIX- flattish at 31;


TRIN- 1.39 with down volume 3x the up;


Markets seem to be heading lower again with over sold areas hit on all major market indexes - also the SPX is trading below the 883 level which is the SMA 200 area.


Looking to buy again and catch a falling knife it is due for a bounce and we may be setting up for a nice little rally.

1 Comments:

Anonymous JJ said...

"Looking to buy again and catch a falling knife" - yes very much so.

"it is due for a bounce and we may be setting up for a nice little rally" - maybe not, if this "move" is anything like the ones we have seen of late (up or down), it could be "relentless".

1:12 PM  

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