The Dow Is Heavy



The Dow still looks sickly and cant seem to get out of is own way. I wrote about this the other day, it better get its act together soon too, or we run the risk of this index dragging down the other indexes.

For the day the SPX/DOW were -0.40%, and the NDX/NAZ were -0.05%. Bonds gained 11 ricks, Crude lost 15 cents, Gold added $4, and the USD was flat. Medium term support remains at the 1628 and 1614 areas, with resistance at the 1680 and 1699 area. Tomorrow: Case-Shiller at 9:00 and Consumer confidence at 10:00.

Short term support remains at SPX 1648-1649 and SPX 1636-1640, with resistance at SPX 1658-1667 and 1680.

The financials look lousy( XLF) and the etf got stopped dead on ts tracks today at its 10 day moving average.


As I’ve said, we need the financials to jump into the pool and try to lead or we are just going to hang around. Right now they’re not.

Today IMMU and NOW triggered and I took some profit on QCOR.

Lets do it again on the morning. Have a good night.


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