Recommended Reading

Google Search

Charts courtesy of

Tuesday, February 8, 2011

Tuesday Morning Update

Yesterday we came close enough to 1224 to make me believe I had it right as the upper limit of the current trading range, so today the pivot points haven't changed. We entered the day in pullback mode, but nt nearly enough to get the inner bear in me excited, and sure enough we reversed shortly after the open and are now positive. XLY is the leading sector today, by a very comfortable margin, and XLE is lagging quite badly, with everything else bunched in the middle. Both the Nasdaq and Russell 2000 are lagging, the Russell quite badly. Oil is down again, now about 86, and gold is up, and Treasury yields are up and rising. The EUR/USD pair has been trading pretty flat, so that is no help.

I habe 188 new highs so far, with breakouts in XIDE, SNCR, CIMT, CPST, ZIGO, HAIN, TM, IPHS, and ATRO. On the earnings front I have BMI reporting last night, down 0.2%. This morning I have SCL, down 2.5%, and VSH, up 1.5%. AXL is confirmed for today, but has not reported yet.

No comments:

Google Analytics