Markets are lower this morning but not so bad in light of the big run yesterday - and everyoneknew today was Turnaround Tuesday- SPX -5, NAZ -9 and the DJIA -21.

The dollar is ripping higher this morning as it is up close to 1% at 75.6 after falling nicely yesterday.

Strongest sectors- junk, banks and real estate while retail, metals, oil service, internets and biotech lag.

NYSE- 1060 net losers;

NAZ- 1000 net losers;

SPX- 120 green;

NDX- 22 green;

VIX- 23.06 and about 4% below the SMA 10.

TRIN- 1.13 with down volume about 2x the up.

Market internals are far worse than the indexes indicate so a bigger dip is probably in store later in the day- 3/4 of the key stocks I follow are red - so my guess is lower later- RSI 2 readings near 60 on the SPX so no short term buy or sell signals - that was yesterday- with a sell.


Post a Comment

Subscribe to Post Comments [Atom]

<< Home