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Monday, November 4, 2013

Monday Morning Update


For a market that is supposed to be correcting, we got a strong start today, but we have a resistance level at 1768 that we stopped just short of. For now, that is the line in the sand, and until the market can push past it, I give the bears the benefit of the doubt. Sector wise we have leadership in XLE and XLP, with XLF and XLU lagging. I have the Nasdaq lagging, the Russell 2000 leading. I have oil dwon, gold up, treasury yields down.

I have 117 new highs so far, with breakouts in BRY, GSAT, CLDT, EXTR, CSIQ, and AFFX. I had two stocks scheduled to report this morning, neither have, but I now have a confirmed date for UHAL on Wednesday.

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