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Thursday, November 21, 2013

Thursday Morning Update

Yesterday gave us a new low, and a new support level, and he range is dropping, which is a sign we are entering a genuine correction. We are getting a boost this morning, so far it is looking a little anemic, but it is picking up strength. XLF and XLY are leading the sectors this morning, while XLP and XLU are lagging. Both the Nasdaq and Russell 2000 are leading by comfortable margins. I have oil up, gold down, treasury yields up.

I have 86 new highs this morning, with breakouts in CSII, AZN, DCI, FNGN, and AEG. I have reports from CYBX, up 1.9%, and DEST, down 0.5%.

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