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Wednesday, September 25, 2013

Wednesday Morning Update

Yesterday's late sell off has now put critical support at 1691 in jeopardy, and we just might test it today. I do suspect, at least in the short term, it will hold, and we could get a pretty good bounce off it. We have sector leadership in XLF and XLE this morning, what you would expect before a bounce, with XLY and XLV lagging. The Nasdaq and Russell 2000 are both about even. I have oil and gold up, treasury yield up marginally.

I have 65 new highs today, with breakouts in GEVA, KNDI, PCRX, KERX, VLCCF, and NUS. I have nothing reporting this morning, but I do have a report from SNX after the close.

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