I was anticipating a narrower range days today, and it looked like we might find some support at 1140, but just minutes ago (and after I retrieved the chart), the market took another dive on the UM consumer sentiment numbers were released, and, as of this writing, we are now sitting right on 1140. As the east coast prepares for Hurricane Irene, the market prepares for Hurricane Bernanke, who will be speaking today and, it appears the market is no longer expecting much more than hot air. Today's leading sector is XLK, with XLY a distant second. Lagging are XLU and XLF. Both the Nasdaq and Russell 2000 are leading. Oil is down, gold up, treasury yields down.
I have 5 new highs today, with no breakouts. I also have nothing scheduled to report today.
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