7.31.2009

MORNING TRADE


Markets are in chop mode this morning moving between green and red territory fairly consistently - The SPX +1.5, NAZ +4 and the DJIA +30.


Strongest sectors- metals, homies, semis, defense and tech while gaming, internets, biotech and energy lags.


NYSE- 650 net green;

NAZ- 250 net green;

NDX- 61 GREEN;

SPX 275 GREEN;


VIX - flat at 25.2;


TRIN- 1.49 with up and down volume about equal.


Oil and nat gas near flat and gold higher by almost $10.


RSI 2 levels in high 80's on most major indexes as the markets refuse to collapse- still thinking the SPX 1,000 level gets tagged - probably early next week- and beginning of month money coming next week could also spring us higher as lots of folks still with the fear of missing.

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