10.02.2009

THE CLOSE


Markets closed off the best and worst levels and their were some sellers into the close- SPX -4.6, NAZ -9 and DJIA -22- not altogether terrible in light of the jobs numbers.


Strongest sectors- gaming, airlines, Brazil, drugs and junk while ags, internets, retail and homies lagged.


NYSE-990 net losers;

NAZ- 720 net losers;

NDX- 31 GREEN;

SPX- 116 GREEN;


VIX- up a bit at 28.6 and about 12% above the SMA 10;


TRIN- 1.07 with down volume about 2x the up;


Hard for the indexes to move higher when the internals are so lousy- and they were far worse than the indexes today.


One encouraging item for the bulls is the SMA 50 holding - it is 1022 - about 3 points lower - and the RSI 2 levels way down near 5- so lots of signals lining up for a bounce- VIX RSI TECHNICALS- next week will be interesting.

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