Markets are trading green as usual as the homie numbers were bullish and Ben calmly claimed that things are getting better.- Markets kind of told us that a while ago.
Any who - SPX +15, NAZ +26 and the DJIA +135.
Strongest sectors- gaming, homies, energy, real estate and metals while commodities, brokers and internets lagged.
NYSE - 1900 net green;
NAZ- 1300 net green;
NDX - 96 GREEN;
VIX- down 2% at 24.5.
TRIN- .26 with up volume 20x the down.
Gold higher by $12 and silver up 2% at 14.17.
RSI 2 levels above 90 on most major indexes so a pull back probably likely next week - and of late buyers have to be quick or they lose the dip- just the way its been-
Markets are trading higher with the SPX +5.6, NAZ +12 and the DJIA +60.
Strong sectors- gaming, metals, emerging markets, oil service and brokers while drugs, bio, ags and internets lag.
NYSE- 1500 net green;
NAZ- 800 net green;
NDX- 72 GREEN;
SPX - 375 GREEN;
VIX- down 4% at 26.8;
TRIN- .56 with up volume almost 8x the down.
Markets with a slow ramp higher as the initial gap was sold- and now being bought again as we get some nice high ticks- looking for a slow crawl higher to continue today and looking to be on the long side for the major indexes today.
Markets closed at the lows with the SPX -24 at/near 980 and the NAZ down 55 and was the biggest loser.
Strongest sectors included bonds, drugs and tech while gaming, reits, metals and banks lagged.
NYSE- 2400 net losers;
NAZ- 1800 net losers;
NDX- 3 GREEN;
SPX- 29 GREEN;
VIX- up 15% at/near 28;
TRIN- 1.64 with down volume about 15x the up.
Markets are now over sold short term and all are certainly curious to see what the bulls do from here- my guess they buy them as tomorrow is TTuesday- RSI 2 levels also over sold at 10 on the SPX.
Tony Dwyer - an analysis who has been watched for many years - had an interesting take a few moments ago- if the sell off is going to get ugly bonds and dollar would have done a heck of a lot better - and as I tweeted - the dollar hits its high before the open this morning.
Markets are lower but holding with the SPX down 22, DJIA -185 and the NAZ -48.
Strongest sectors- bonds, drugs and tech while metals, gaming, oil service and emerging markets lag.
NYSE- 2500 net losers;
NAZ- 1900 net losers;
NDX- 1 GREEN;
SPX - 27 GREEN;
VIX - higher by 15% at 27.9;
TRIN- 1.09- down volume 15x the up;
RSI 2 levels:
Probably a day where we close at/near the lows - but also a day to start some long positions or cover some shorts- even Doug Kass said on twitter he was covering one half his trading shorts.
Stuff I am looking to buy for longer term positions EWC EWZ FAX- also some high yield mutual funds - FSICX FAGIX.
MORNING SMASH REDUX
Equity markets look like they are back on depression watch this morning with the ES futures down 20 while the dollar is up and all the commodities are down.
Some support areas to watch include 985 on the ES which is the 20 day EMA an area that has not been hit since July- and of course RSI 2 which as I type is about 14 in the pre market.
Initial take - markets probably a buy later today - no rush -
YM 20 period EMA at 9115 and RSI 2 at 14;
NQ 20 period EMA at 1589 and RSI 2 also at 14;
Note the 50 day SMA on the SPX 945 and the EMA 20 at about the same area as the ES 985.
So what will become of Alexis when she gets dumped for IMUS?;
Chinese stock market dragging us down after it dragged us up?;
Quint on his toes;