Friday Morning Update

The first week of 2012 is just about in the can, and except for the first half hour of the week, we have gone just about nowhere. Ominously, the big volume spike at the end of the day came on another red candle, the fourth day in a row. We have another interesting day in the sectors: XLY is leading big today, with XLP lagging by a large margin. I have the Nasdaq leading big, the Russell 2000 leading slightly. I have oil, gold, and treasury yields all down.

I have 46 new highs so far, with breakouts in MGRC and HUM. I have reports from APOL, up 5.9%, and PSMT, down 13%.