Monday Morning Update

We had a mixed bag of economic reports this morning (factory orders down, pending home sales up), so the market is basically falt lining this morning. Looking at the chart, it seems that we are narrowing down to a range now between 1040 and 1050, and will probably make a big move in one direction or another soon.  The leading sector is XLU, with XLY a close second, trailing are XLB and XLE. The Nasdaq and Russell 2000 are both lagging. Oil and gold are bth down and dropping, as are treasury yields.

I have 123 new highs so far, and a first glance it appears we have a lot of acquisitions this morning. Breakouts include DRJ, ESP, MSCC, and WXCO. There is nothing on the watchlists reporting today.