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Wednesday, September 4, 2013

Wednesday Morning Update


My theoretical resistance level from yesterday never panned out, as we never got past the opening high, which is now the new resistance. Support may be moving up here, but for the time being I will leave it where it is. he market is moving up this morning, but it does appear to be tentative. XLF and XLY are leading the sectors this morning, with XLU and XLB lagging. The Nasdaq has a slight lead, the Russell 2000 is about even. I have oil, gold, and treasury yields all down.

I have 48 new highs so far, with breakouts in SPA, ETFC, NNA, DG, and AEL. I have nothing on the earnings front to report.


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