Markets are trading higher a bit after noon with the DJIA +61, NAZ +14 and SPX +8. CRUDE has taken an early swoon and is now trading down to $102+ or lower by over $3.5.
Strongest sectors include brokers, homies, airlines, biotech and reits while metals, ags, drugs and defense lags.
NYSE- 670 net winners;
NAZ- 400 net winners;
NDX -70 GREEN;
OEX 80 GREEN;
IBD 50 GREEN;
VIX FLAT;
VXO down 5.5%;
Up volume 2X Down volume;
The 1315 retracement level on the SPX is holding so far as the markets seem to be moving up on the lower crude. Funny how the brokers are the best sector on the last day of the quarter-not sure if big funds etc want to show big positions there but who knows.
OIH was up about $5 earlier but is now just about flat on the day;
Still sitting on my hands today waiting - maybe buying the next pullback for a day trade.
The above story is the opinion of the author only and it does not reflect
iStockAnalyst opinion. Further, the author is not personally advising you
regarding the suitability of the story for your investment needs. In no event
iStockAnalyst will be liable for any loss or damage including without
limitation, indirect or consequential loss or damage, or any loss or damage
whatsoever arising from or arising out of, or in connection with the use of this
information. Please consult your investment advisor before making any investment
decision.
