So much for that new level of support in the broader market ($SPX)! No news to shock the markets and we fall right back down after making a higher high. In technical terms we did make a higher high after making a higher low, so we need to watch and see if the higher low
Tag: breadth
The week is off to a bullish start with the major indices all making some nice gains today. With no economic data today the markets reacted to a couple of news items like the highly probable automaker bailout and President-Elect Obama’s infrastructure plan. Most of you probably noticed the sell-off we had in the last
The S&P traded pretty nicely today at first glance and even managed to print a 2% gain. The news of the day did take its toll on investors though as the conviction was anemic at best. Take a look at the breadth of the NYSE today and you’ll see what I’m talking about. The ADP
Not much good in the stock market today as the selling pretty much began as the bell rang. Take a look at the breadth and you can see the decline as the day wore on. The volume today was anemic and that is becoming the norm now for Mondays. Not sure if that will remain
The bulls will argue that of the record gains yesterday, today’s lower close is just a rest stop before another surge higher. Take a look at the breadth chart below and you can see that it was a battle today and the bulls did hold their own for the most part. However, the bears suggest
Paint Drying Day
As expected, another light volume day and not much movement, relatively speaking, either. The selling pressure did kick in around 10:30 as the decliners broke above the advancers in the breadth. Bad news continues to come into the equities market yet, for the most part, the bulls are standing firm. GDP did come in as