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Tuesday, September 28, 2010

Tuesday Morning Update

Yesterday's last half hour plunge continued fr the first half hour today, when we got a bounce off 1032. the 1030 area looks ike it will be a pivot point today, with 1123 the lower boundary, 1137 the upper.  Leading sectors today are XLP and XLV, and XLB lagging. The Nasdaq and Russell 2000 are both trailing, but the Russell is a little stronger. Oil and gold are down, treasury yields are bouncing after a gap down. So far it looks lke the market is n defensive mode.

I have 78 new highs so far, with precious few breakouts, I have one, CGNX, breaking out on high volume. I had FUQI and LPHI scheduled to report today, FUQI did not, but LPHI has apparently reported preliminary results, and iis down 0.05%.

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