Friday Morning Update

Today is starting out like a repeat of yesterday, early bullishness followed by a selloff. Today's selling didn't start until 10 am, so it was likely the ISM numbers that sent the market down. Yesterday's failed breakout reinforces 1150 as resistance. I have support here at 1144, but it could actually be anywhere between there and 1140. The battlefield is in between. Leading sectors are XLB and XLE, trailing are XLV and XLP.  The Nasdaq and Russell 2000 are both lagging pretty badly. Oil is back over 80, gold is , holy smoke, 1320, and treasury yields are dropping after a gap up.

I have 168 new highs so far, with breakouts in CVV, MEDQ, DMAN, RELL, ACN, PLCE,  and SNSTA. There is nothing of note on the earnings front.