Recommended Reading

Google Search

Google
 
Charts courtesy of stockcharts.com

Tuesday, September 10, 2013

Tuesday Morning Update

The market is now past any 10 day resistance, and the 10 day chart was hard to see, so I zoomed into a 5 day chart. That didn't help that much: the only point that sticks out is 1672, which we gapped over this morning. For a lower pivot point I has lots of choices. I picked 1662 partly because it almost looks right, and mostly because it is 10 points below 1672, making the upper target easier to claculate. 1682 is the upper li,it for today, and it might be just about right: I think we have a chance of testing that, and probably won;t go much higher. XLF and XLI are leading the sectors this morning, while XLE and XLP are lagging. The Nasdaq and Russell 2000 are both lagging slightly. Oil and gold are down, treasury yields are up. the inverse link between yields and stocks seems to have been broken, at least for now.

I have 262 new highs so far, with breakouts in SPNS, FIVE, HOLI, and CTHR. I had AEPI scheduled to report today, but they actually reported yesterday and were up 17%. I will be taking a look at that one later as it showed up on the price relative scan last light.

No comments:

Google Analytics