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Thursday, September 30, 2010

Thursday Morning Update

1150 gave way this morning, but it didn't last long. It does pove, though, that 1150 is vulnerable and may not be the ultimate resistance. For now I have an 18 point range with 1150 in the middle, and I doubt we stray too far from that range. The game of musical sectors continues, as yesterday's weakling is leading today, XLF.  All other sectors are right about even, just above positive. The Nasdaq is lagging slightly, the Russell 2000 is about even. Oil is up, gold is down, and treasury yields are rising.

I have 289 new highs so far, with breakouts in  VRNT, LCRY, OPLK, CFS, STKL, NICK,  and GTE.  SNX from the earnings list reported last night and is up 8% this morning.

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