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Friday, September 16, 2011

Friday Morning Update

So far the vicious resistance zone between 1204 and 1230 isn't putting up much resistance. In between is 1217, which we hit early this morning before puling back, but so far that looks like just a pause to reload. Leading us up are XLY and XLK, lagging is XLE. Both the Nasdaq and Russell 2000 are lagging, the Russell pretty badly. I have oil down, gold up, treasury yields up. I'm not real optimistic about this rally, but I've been saying that for several days now.

I have 49 new highs so far, with breakouts in DMND, COST, MDW, AMZN, BBBY, and JAZZ. I have a report from DMND, up 11%.

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