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Wednesday, June 26, 2013

Wednesday Morning Update

1598 was going to be the point of most resistance coming into this morning, but htat was taken ou right off the bat, and it seems the stronger resistance is about 1602. We wll likely be walking into several minor resistance points on the way up, with the major resistance at the bottom of the gap left from last week. This morning XLF, XLV, and XLY are leading, XLB and XLK are lagging. The Nasdaq has a slight lead, the Russell 2000 is slightly lagging. I have oil, gold, and treasury yields all down.

I have 95 new highs so far, with breakouts in NGL, BWLD, SMLP, MU, VSTM, and HBAN. Reporting last night were AVAV, up 2.6%, and SNX, up 0.3%. Reporting this morning is LNN, up 4.8%.

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