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Friday, October 18, 2013

Friday Morning Update

We are getting some follow through on yesterday's move, and the next level of resistance I calculate is 1745. he government is now open for business and thus free to interfere with the market, although I don't believe here are any economic reports of consequence today. XLK is leading the sectors big today, with XLI a distant second. XLV and XLF are lagging. The Nasdaq and Russell 2000 both have big leads. I have oil up, gold down, treasury yields down.

I have 606 new highs so far, with breakouts in OSN, BNSO, ALGN, ZHNE, ATHN, GAIA, ANAC, GOOG, CMG, BHI, and CPHD. I have reports from ACTG, down 22%, ISRG, down 6.1%, and VMI, down 1.9%.

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