Equities are trading higher but lots of cross currents - SPX +3.5, NAZ +2.5 and the DJIA +40.
Strongest sectors- airlines, gaming, defense, retail, consumers and small caps while metals, semis, tech, biotech, drugs and brokers lag.
NYSE- 920 net winners;
NAZ- 600 net winners;
SPX - 360 GREEN;
NDX- 56 GREEN;
TRIN- .81 with up volume 2.5x the down.
VIX- flat and trading a hair over the SMA 10.
Gold down about $11 while the dollar keeps moving higher and now at/near 77.
Cross currents- yea - indexes looking ok except for tech and the naz which are lagging after starting out in the lead - JNK trading ok while the dollar is lots higher- - for now going with strong internals and buying some dips IN THE DJIA /SPX.
Equities are trading higher and continuing the move off the lows from yesterday- The SPX +8.5, NAZ +15 and DJIA +85.
Strongest sectors- nat gas, internets, energy, retail and ags while brokers, metals, reits, gaming, homies and real estate lags.
NYSE-900 net winners;
NAZ- flat internals;
SPX- 390 GREEN;
NDX- 78 GREEN;
TRIN- .92 with up volume about 2x the down;
VIX- 22.2 and lower by 2% and trading about 2% under the SMA 10.
RSI 2 levels at near 80 on most major indexes with the NDX/QQQQ over 85.
One winning group today is energy and it has lagged since late October and may be ready for some reversion to the mean trading- so buying some DIG and still long BRF GDX QLD QQQQ.
Equities did what they were supposed to do - rally from oversold levels- SPX closed +4, NAZ +11 and DJIA +51.
Strongest sectors - metals, oil service, tech, semis, Australia and Canada while nat gas, gaming, internets, retail and reits lagged.
NYSE- 260 net green;
NAZ- flat internals;
NDX- 60 GREEN;
SPX- 275 GREEN;
TRIN- 1.14 with up and down volume about equal.
VIX- down about 4% and trading a hair over the SMA 10.
Gold about unchanged and the dollar down a bit.
Sold some QQQQ that I bought earlier in the day but holding some for a rally continuation- also owning some GDX and BRF for further upside action-
Equity markets are trading lower yet again as the bulls are having a difficult time catching a break of late. SPX -3.75, NAZ -13 and the DJIA -22.
Sector strength - metals, nat gas, oil service, ags, junk and drugs while airlines, gaming, retail, internets and defense lags.
NYSE-885 net losers;
NAZ- 900 net losers;
SPX- 137 green;
NDX- 17 green;
TRIN- .53 with up and down volume about equal-
VIX- flattish an trading about 5% above the SMA 10.
RSI 2 levels in buy territory on most major indexes as they trade near 10 except for the RUT which is out performing of late.
Gold- trading up 10 at 1140 while the dollar is down a tad at 76.46.
I am scaling in to some QQQQ /QLD and some GDX- also may add to DGP which I have been in and out of lately.
The Brazilian small caps also look interesting BRF-
Fairly uneventful day in the equity markets as the SPX closed down 2.75, the NAZ -5 and the DJIA +1.
Strongest sectors- nat gas, defense, semis, airlines and biotech while gaming, reits, metals, banks and brokers lagged.
NYSE- 275 net winners;
NAZ- flat internals;
SPX- 235 up and 255 down;
NDX- 45 GREEN;
TRIN- 1.55 down volume about 1.5x the up;
VIX- higher by 4% and about even with the SMA 10.
RSI 2 levels on major indexes as follows:
So some stuff in pullback areas but thinking we go lower so holding some powder dry- did sell some DGP today to lower the exposure and take a little risk off the table although I suspect we go higher before long.
Equity markets are trading near the flat line in an uneventful session unless one is involved with the metals.
SPX +2, NAZ +3.5 and DJIA +26.
Strongest sectors- nat gas, oil service, semis, retail, small caps and defense while gaming, metals, airlines, brokers and reits lag.
NYSE- 600 net winners;
NAZ- 275 net winners;
SPX - 320 up and 175 down.
NDX- 67 GREEN;
OEX- 60 GREEN;
TRIN- 1.37 with up and down volume about equal-
RSI 2 levels near 70 on most major indexes.
Markets just look to be bouncing around and don't really have a good feel for direction- the dollar is again heading lower but gold isn't moving up so nothing clear to me today.
Jeff Saut - who has been great on the rally - getting a tad nervous;
FORBES on US home prices;
TRADER MIKE and his take;