I'm off to a late start, and will be pretty busy today so I probably won't be ding a lot of posting. Yesterday, even though it didn't quite look right, the chart was telling me we had support at 1080. That's exactly where we bounced this morning. I have no idea what the reason for the early sell off was, nor does it really matter, as we appear to be in the process of testing the trading range between 1180 and 1200 before moving higher (or lower) and that could take some time. The leading sector is XLV, the only one down less than 1%, and trailing are XLB and XLE, which means the Euro is in trouble again. The Nasdaq is lagging a bit, the Russell 2000 leading comfortably. Oil is down, gold up, Treasury yields down. The dollar is rising against all other currencies but the yen. This could be a tough day.
I have 65 new highs, with breakouts in CNTF, NUAN, GCO, DY, GORO, and HRL. Last night we had a report scheduled from KRO, but it doesn't look like they reported. This morning we have DSW, up 3%. That should do it for earnings this week.
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