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Wednesday, July 6, 2011

Wednesday Morning Update


1340 is now looking more like a brick wall than a line in the sand, as we have now had 3 attempts to get above it get thrown back. Yesterday I took a look at the "big picture", today is the "little picture" range between 1320 and 1340, with 1330 the key level to watch. XLP is the leading sector this morning, with XLE and XLY the laggards. The Nasdaq and Russell 2000 are about even with the SPX. Oil is down, gold up, treasury yields down, and the dollar is rising.

I have 168 new highs so far, with breakouts in KCI, MEDH, HNSN, MHLD, and QSII. I have OCZ scheduled to report today, and now have the day but not the time confirmed.

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