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Tuesday, September 3, 2013

Tuesday Morning Update


The dreaded month of September has begun, and so far, so good. Notice that on Friday we held support right to the penny, and this morning we went through last week's high, which should have been resistance. That leaves the next resistance level all the way up at 1663, but there is that pesky gap in between. Sector wise, we have XLE and XLB leading this morning, with XLU and XLP lagging. The Nasdaq and Russell 2000 both have pretty big leads. I have oil down, gold up, treasury yields up.

I have 92 new highs so far, but I expect that number to change rapidly. I have breakouts in NOK, CACH, ALU, HALO, NVDQ, and SFUN. I had a report from JOSB scheduled today, but they will be reporting on Thursday.

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