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Friday, October 14, 2011

Friday Morning Update

This is a 3 day 5 minute chart si I could zoom in a little on that 1220 area, which again is proving to be big time resistance. We ht it almost immediately at the open, stopped dead, and are now pulling back. So far the pullback has been very muted, so it is quite possible we will take another shot at it. This morning's leading sector is XLE, with XLB a distant second. Lagging are XLU, XLP, and XLV. The Nasdaq is leading slightly, the Russell 2000 lagging slightly. I have oil and gold both up, treasury yields up pretty big.

I have 33 new highs today, with breakouts in OPK, UNAM, MAkO, THOR, QCOR, and HANS. I have a report from VMI last night, and it is down 7%. MAT reported this morning, and is down 3.4%. I also have KMGB reporting yesterday morning, and it was down big yesterday.

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