Semiconductors broke down today adding bear fuel. Watch the SOX 457 level, now well under at 450. The bears next need to push down through NYA 8786 to receive additional bear fuel that would light the path to the SPX 1550's. NYA is now at 8847 about 60 points above in the bull camp. The VIX and TRIN are steadily dropping from the peaks after the open today so this allows the broad indexes to recover off the lows. TRIN is 1.09 and VIX is 19.39. If these two begin to creep upwards, equities will leak lower again.
Note Added 2:17 PM: TRIN is 0.94 now under one and bull-friendly and VIX is 19.03, lower as well intraday, so equities continue to recover. SPX 1580. SOX is 454 only three points under the 457 level that will provide bull fuel for markets. If SOX stays under 457, the broad indexes would likely roll back over to the downside.
Note Added 3:11 PM: TRIN 0.92. VIX 19.01. SPX 1584. TRIN and VIX a touch lower so equities squeeze out some additional upside. SOX is 454 remaining under the critical 457 bull-bear line in the sand.
Note Added 3:28 PM: TRIN 1.16. VIX 19.62. SPX 1579. SOX 452.66. Thus, TRIN and VIX drift higher, and semi's drift lower, so equities drift lower.
Note Added 3:51 PM: SOX 452.21. SPX 1577.
Note Added 3:57 PM: SOX 452.05. SPX 1575.
Note Added 4:00 PM: SOX 451.56 puking into the close. SPX 1573. Place the semi's at the top of the watch list tomorrow; SOX 457.00. Bulls got nothing unless they can move back above SOX 457. In addition, watch retail that was relatively quiet today. RTH 51.48 is the bull-bear line. RTH closes at 51.07 in the bear camp. If the bulls can move RTH above 51.48, that signals the all-clear for a few-day rally. So watch SOX 457.00 and RTH 51.48. If these two parameters remain bearish, equities will continue lower. Watch NYA 8786 (now causing market bullishness at 8892 about 100 points above). If NYA 8786 fails, the broad indexes will take another leg lower with SPX moving into the 1550's. Volume is above average today, the fourth day of strong volume where the SPX has dropped from 1652 to 1573, 80 handles in this time period, about 20 handles per day. The four-day drop is about 90 handles lower to the LOD at 1560.
Terimakasih anda telah membaca artikel tentang Keystone's Midday Market Action 6/24/13. Jika ingin menduplikasi artikel ini diharapkan anda untuk mencantumkan link https://bankingcorp.blogspot.com/2013/06/keystone-midday-market-action-62413.html. Terimakasih atas perhatiannya.