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Wednesday, October 26, 2011

Wednesday Morning Update

It looks like 1241 is goin g to be the key level today, as it may determine whether this is a bounce before another drop, or the beginning of another move up. We have successfully retested the breakout and now have sipport at 1226, so the probability is the latter, but keep an eye on the volume on the way up (if volume means anything anymore in this HFT market). Currently I have a 5 way tie for leading sector: XLB, XLE, XLI,  XLU, and XLV are all very close. Lagging are XLY and XLK. Both the Nasdaq and Russell 2000 are lagging. I have oil down, gold up, treasury yields up.

I have 39 new highs so far, with breakouts in RTK, MIM, PNRA, EDAC, QCOR, BIIB, and IIN. I have 6 reports from last night: ACC, up 0.4%, AMZN, down 9%; DDIC, down 0.5%, QCOR, up 20%; RRC, up 3.5%, SKT, up 0.1%. I have too many this morning to check them all until later, so some of these may not have reported:

Ticker Change
AFAM 0.79%
ALGT 0.23%
AXTI 3.06%
COG 3.30%
CPLA -0.94%
EDR 1.60%
ERTS 1.23%
GTLS 4.07%
IOSP 2.15%
JAZZ 2.45%
LAD 7.67%
MDCO 3.11%
MLNX 1.72%
NEU 1.55%
REGN 3.84%
RNOW -0.52%
TYL 1.34%

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