The Wrap 10/9/12


The market was very sloppy today. Apple rallied off its lows from around 623 and rallied all the way back up to a 636 close.

GOOG dropped around 15 points and for the most part technology was heavy all day.

Some better acting groups included coal and energy, so maybe we will start to see a rotation into those groups.

As you can see in the chart below, the S&P broke its uptrend line (in white). The following support levels are:

1440- 1438, 1430 then 1424 and 1400. We could just as easily see a big bounce higher tomorrow , but those are near term levels to watch on the downside.

I will see you in the morning.



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The Wrap 10/10/12,,,,FXI and SINA

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