3.18.2010

MIDDAY SHIFT


Most major market indexes are trading lower at mid day with the exception of the DJIA which is up a hair as I type- The SPX -4.5, NAZ -5 while the RUT is down 2.


Strongest sectors- ags, gold, junk, airlines and trannies while oil service, banks, energy, semis and gaming lags.


NYSE- 600 net losers;

NAZ- 400 net losers;

SPX- 167/325;

NDX 37/63;


VIX- down about 2% at 16.36;


TRIN- 1.59- with down volume almost 3x the up;


Energy one of the weakest areas today and looking for a bit more of a dip to buy some DIG or XLE - note the SMA 50 on XLE at/near 57.25-also RSI 2 now in the 20's;


I suspect lots of folks are looking to buy this market on any dip - so we probably aren't going that much lower - getting ready for some QQQQ hopefully in the 47.25 area.


1 Comments:

Anonymous QUALITY STOCKS UNDER 5 DOLLARS said...

Nice interesting post.

5:25 PM  

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