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Tuesday, October 15, 2013

Tuesday Morning Update

Yesterday we dropped in the morning only to rally back the rest of the day, and today is setting up to be a repeat. The range is moving up, the volume is moving down, and under normal conditions I would think we were about to start another move down, but 2013 has been anything but normal conditions, so I am prepared for just about anything. XLV is leading bug among the sectors this morning, with XLK a distant second. Lagging are XLY and XLU. The Nasdaq has a nice lead, the Russell 2000 lagging slightly. I have oil and gold down, treasury yields up.

I have 131 new highs so far, with breakouts in ASTC, AMCN, MY, EHTH, SCHW, and FDX. I have nothing reporting this morning. 

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