Once again the market has made a big move in one direction, making it nearly impossible to pick out support and resistance. It looks like we have a minor resistance point at 1138, so I took the distance from the recent low at 1114 to 1134 and projected it upwards to 1154, giving us the range I have here. At this point it is just a guess, and the market cannot seem to make up it's mind this morning. The leading sectors are XLF and XLP, lagging are XLB, XLE, and XLK. The Nasdaq is lagging pretty badly, The Russell 2000 not quite as badly. Oil and gold are both getting hammered, but I do have treasury yields up slightly at the moment.
I have 4 new highs so far, with no breakouts. i have nothing reporting this morning.
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