2.23.2010

THE SWOON


A little more than half the trading day gone and equities are at/near their lows of the day- SPX-13.5, NAZ-33 and the DJIA -90.


Strongest sectors- bonds, retail, utils, biotech and drugs while, metals, semis, energy, homies and banks lag.


NYSE-1425 net losers;

NAZ- 1100 net losers;

SPX- 38/ 457 green to red;

NDX- 8/92 green to red;


VIX higher by 8%+ - but still trading about 4% below the SMA 10-;


TRIN 2.3- with down volume about 8x the up.


RSI 2 levels near 15 on the SPX and a bit lower on the NDX- will probably buy some SSO/QLD near the close -

2 Comments:

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