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Monday, April 8, 2013

Monday Morning Update

Today's red candles, by contrast to Friday, barely register on the 15 minute chart, so it looks like we are in for a mild pullback this morning, and a possible rally later in the day. Resistance right now is more of a zone than a point; we should start seeing it at the middle pivot point, all the way to the to pivot. Among the sectors, I have XLE and XLY leading, with XLV and XLF lagging. The Nasdaq and Russell 2000 have very slight leads. I have oil up, gold down, treasury yields up.

I have 95 new highs so far, with breakouts in HILL, RGCO, JOEZ, and VIAB. I have nohing scheduled to report this morning.

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