It seems the market seems to be getting comfortable with that little 10 point range between 1184 and 1194: dip below, and we quickly come back upl break out and we quickly come back down. I have no idea how long this will last, but we are praatically sitting on the 50dma, so it might be a couple of days. To compound matters, the EUR/USD pair is currently trading in a pretty tight range, and the dollar is flat against just about everything else. XLB has a huge lead and is the only green sector. All the others are lagging, with XLU taking the worst beating. All of the indexes are just about even, with the Russell 2000 taking a very slight lead. Oil and gold are bith down, Treasury yields are down but rising. not only is yesterday's rally not continuing, we didn't even get so much as a gap up.
I have 56 new highs so far, with breakouts in CRM, HIBB, FLXS, ANN, FL, FINL, and WLT. On the relative strength list we have a report from ANN, which is up 7.7%, and on the earnings list we have KIRK, down 17%. Those of you who know my trading history with that one will understand how pleased I am with that.
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