There was a down note this morning on durable goods orders (although ex-autos, the number wasn;t bad), which was blamed on declining aircraft orders. I can vouch for that, I haven't ordered a single aircraft in the last month. The problem with durable goods orders that I see is, basically, other than aircraft and autos, what durable goods are manufactured here any more? Yesterday we failed by a point to equal the previous high at 1211 (which in turn was lower than the peak before that), so 1211 becomes resistance. That was before the new homes sales numbers came in, which I haven't seen but they jacked the market right up to 1211, and now we have broken through, so the range I have on the chart is now moot. With yesterday's higher low, it probabl doesn't come as a surprise that we are getting some strength today.Strength is in XLB and XLE, weakness in XLP and XLU. TNX gapped up and is rising. The Nasdaq is lagging a bit, probably due to a disappointment from AMZN, but the Russell 2000 is quite strong. The Euro is gaining strength on yet another bailout for Greece. Have you noticed that every time Greece is going to get a bailout, the ":news" is released just before the U.S. market open? Coincidence, I'm sure.
I have 484 new highs this morning so far, with a lot of high volume breakouts, including ACTG, LOCM, CPHD, IDXX, DWCH, BOOT, ERIC, and HITT. Reports from last night: ALGNdown 1.4%, DECK up 9%, PLXW down 14%, and SYNA up 10%. This morning I had NWE aond OSTK scheduled, but only NWE has reported, and is up 0.3%.
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