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Friday, November 15, 2013

Friday Morning Update


The market is having a tough time making up it's mind this morning, with an open up, a slam down, and another move up in the space of a few minutes. The chart isn't terribly clear either, with no well defined trading range: conservatively I have a target here of about 1796. We have a boatload of economic reports this morning, most of them below expectations, but again, the market seems to be ignoring them. XLB and XLP are out in front among the sectors this morning, with XLY and XLU lagging, but there isn't much space between leaders and laggards, so that will change. The Nasdaq is lagging slightly, the Russell 2000 lagging badly. I have oil and gold up, treasury yields down.

I have 195 new highs so far, with breakouts in FONR, HMIN, KMB, A, ASX, and NOAH. I have a report from MTSC, , up 1.1%. I missed a report from DDS yesterday, they were up 2.5% but are down 1.5% today.

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