Friday Morning Update
The market seems to like 10- point ranges lately, the most recent one being the one we are in now, with 1514 as support, 1524 as resistance. This morning we went right up to withing a couple of points of 1524, then dropped right back, so the market is not yet ready to move higher, although that could come later today. Among the sectors, we have XLU leading, with XLY, XLK, and XLB close behind, while XLE and XLF are lagging. The Nasdaq is about even, the Russell 2000 has a slight lead. I have oil and gold down, treasury yields up.
I have 267 new highs today, with breakouts in SAAS, MWV, KFY, FVE, and NFP. I have one report this morning, from IPGP, which is down 11.2%.
2013-02-15 08:15:15
Source: http://samuraitrader.blogspot.com/2013/02/friday-morning-update_15.html
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