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Monday, October 14, 2013

Monday Morning Update


This is another one of those "the lines draw themselves" morning, which is good, because I would have had a hell of a time trying to figure out which of the many pauses we have had on the way up is support. As near as I can figure, we have resistance at 1704, support at 1682, and a midpoint of 1693, which is what the market is testing this morning. Nothing has changed in the shutdown situation, which means no economic reports. XLK and XLP are leading the sectors this morning, XLU is lagging by a mile. The Nasdaq is leading slightly, the Russell 2000 is lagging slightly. I have oil down, gold up, treasury yields up.

I have 101 new hgihs so far, with breakouts in ATRS, KLIC, HTHT, HOLI, LINTA, and SPWR. Neither of he stocks I had scheduled to report today have reported, I will try to get dates for them.

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