Markets continue to trade lower after an initial attempt at a morning rally failed. The DJIA-100, NAZ -15 and SPX -11.
Strongest sectors are brokers, biotech, large cap growth and airlines while internets, Australia, real estate, emerging markets, banks and homies lag.
Key stocks- ICE RIMM CELG GS NVDA MSFT green while UA AMZN MA INTC MGM NYX MTW BAC and MER are red. Overall half up and half down.
NYSE- 1480 net losers;
NAZ -1135 net losers;
OEX-20 WINNERS;
NDX -28 WINNERS;
IBD 100-40 WINNERS;
WINNERS- GIGM FMCN WFR STP RIMM PCLN GME FSTR KOP SNDA GENZ BIIB ERTS NVDA MSFT CCU LEH TWX DIS MS CL HET DELL;
LOSERS- BDK DOW LTD AA DD HAL INTC IP WY PFWD WX SID SNCR BCSI SNHY BBL BHP MTL CPLA LVLT EBAY NIHD ADBE PCAR SHLD;
VIX -FLAT;
Down volume 3X Up volume;
Market seems to be fairly resilient as everyday there is more bad news but the markets hang in and don't tan.
Technically, we continue to hold above the 50% retracement on the SPX at 1475 and the DJIA at 13,360. I almost feel like turning off the machines and coming back on Monday although maybe buying some EWA RSI (2) at 10. So yeah, buying it.
