A dreary, boring day on the street with oils, metals, shipping, emerging markets and gaming all acting funky while tech, airlines, reits, real estate and homies outperformed.
Key stocks belong to many of the funky sectors and most closed in the red including LVS DECK WYNN MER XOM POT MGM AMZN CELG and MTW while UA NVDA MSFT GOOG and KLAC closed in the green.
NYSE internals- 740 net losers;
NAZ internals -800 net losers;
NDX -40 WINNERS;
OEX -30 WINNERS;
IBD 100- 15 WINNERS;
IBD 20- 3 WINNERS;
Biggest winners- SEPR UAUA NVDA GENZ ERTS ALTR MSFT GOOG AVP CL EK DELL GM BAX WY SSRX ARGN EJ BIDU AAPL SCHN PFWD ISRG;
Biggest losers- EXM DRYS DSX FTI BTJ CAM OII CYNO VIP NOV ATI PG SLB HAL CVX MER XOM AA XMSR SIRI WYNN LVLT JOYG TLAB YHOO NIHD;
VIX up 5% back to the 21 level and a few % above the 10 day SMA;
OIH SLB CAM HOC NFX VLO XOM APC XLE all drilled down hard and may be approaching a buy area although the OIH has now dipped under the 50 day SMA. I suspect this is more a buying opportunity than a time to sell as oil dips under $90.
SPX again rejected at the 1,540 level or the 20 day SMA. This has been resistance for about 2 weeks and I suspect tomorrow we either break above and it becomes support or we sink under with a no go from Big Ben.
I suspect most traders want tomorrow and Friday (jobs number) out of the way so the seasonals can take over and restart the bull.
