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Post by merrillstanley on Mar 5, 2010 12:55:23 GMT -5
The CRB Commodity Index has pulled back a bit. It now trades with a 0.7% gain after it was up more than 1% in recent action. The dip comes as the dollar makes its way up from negative ground and back to the neutral line, which is where it had initially traded this morning.
Meanwhile, stocks continue to trade with strength, but they are also off of their session highs.
As a result of strength among stocks and commodities, Treasuries have been under pressure. In turn, the benchmark 10-year Note is down 22 ticks. That puts its yield back near 3.70%. DJ30 +83.44 NASDAQ +25.74 SP500 +10.87 NASDAQ Adv/Vol/Dec 1962/1.15 bln/639 NYSE Adv/Vol/Dec 2483/410 mln/486
The stock market has drifted off of its session high, but broad-based gains remain as 90% of the components in the S&P 500 sport gains. Such positive market breadth has helped take the stock market to a year-to-date gain of 1.0%; stocks struggled to become year-to-date positive earlier this week. The stock market is also at a fresh one-month high and less than 2% below its 52-week high, which was reached in mid-January. DJ30 +81.70 NASDAQ +24.27 SP500 +10.60 NASDAQ Adv/Vol/Dec 1902/1.02 bln/650 NYSE Adv/Vol/Dec 2448/375 mln/512
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Post by abdogman on Mar 5, 2010 13:10:25 GMT -5
at present Momo is flat as is volume for xlf fas and faz ......xlf sideways between 15.13-15.15
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Post by abdogman on Mar 5, 2010 13:20:45 GMT -5
momo switching from fas to faz volume still very low
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Post by abdogman on Mar 5, 2010 13:22:00 GMT -5
macd neg for fas pos for faz looking for a break
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Post by deadmoney95 on Mar 5, 2010 13:26:27 GMT -5
ITMS:
Market Stalls Around Intra Day Resistance Of $113.90.
If that level breaks, markets should see $114.10 - $114.15.
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Post by abdogman on Mar 5, 2010 13:39:52 GMT -5
volume coming back in xlf and price dropping 15.17 to15.14
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Post by triggerhappy on Mar 5, 2010 13:40:36 GMT -5
Biggest Neg TICK today -313
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Post by triggerhappy on Mar 5, 2010 13:42:05 GMT -5
And all the way to TICK +870.
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Post by abdogman on Mar 5, 2010 13:55:47 GMT -5
xlf price moving up on no volume
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Post by abdogman on Mar 5, 2010 13:57:51 GMT -5
last 1 min volume 600k xlf
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Post by abdogman on Mar 5, 2010 14:10:21 GMT -5
momo and macd Fas positive xlf 15.17 again on no volume
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Post by merrillstanley on Mar 5, 2010 14:38:09 GMT -5
is anyone else scratching their head?
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Post by triggerhappy on Mar 5, 2010 14:42:53 GMT -5
TICK +1037
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Post by triggerhappy on Mar 5, 2010 14:43:32 GMT -5
Yup Merrill. I guess we lose.
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Post by abdogman on Mar 5, 2010 14:43:36 GMT -5
xlf fas vol up ....xlf 15.18 and moving up
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Post by triggerhappy on Mar 5, 2010 14:46:58 GMT -5
We're going parabolic on the SPY. To the moon...
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Post by abdogman on Mar 5, 2010 14:48:49 GMT -5
xlf and fas still moving up
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Post by abdogman on Mar 5, 2010 14:53:57 GMT -5
its crazy ....but i am going w the flow
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Post by elle on Mar 5, 2010 14:55:07 GMT -5
This is hysterical - what a way to celebrate the 1 year anniversary of March low. We are only 13 away from Dec high on SPX.
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Post by abdogman on Mar 5, 2010 15:00:19 GMT -5
Macd and Momo on Fas and Faz and Xlf are changing from pos to neg so fast i am only mentioning the major moves......whew!!!
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Post by abdogman on Mar 5, 2010 15:02:00 GMT -5
XLF white candle nearly 1 mil shares and price going up 15.21
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Post by elle on Mar 5, 2010 15:02:22 GMT -5
waht about 1 year cap gains, won't some of the people who bought in March last year start selling now at lower rate?
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Post by deadmoney95 on Mar 5, 2010 15:03:57 GMT -5
Consumer credit numbers just came out:
Gain in U.S. Jan. consumer credit unexpected
U.S. consumer credit rises for first time in year
U.S. Jan. consumer credit up $4.96 bln or 2.4%
WASHINGTON (MarketWatch) -U.S. consumers increased their debt in January for the first time in a year, the Federal Reserve reported Friday. Total seasonally adjusted consumer debt rose $4.96 billion, or at a 2.4% annual rate, in January to $2.46 trillion. Economists surveyed by MarketWatch expected consumer credit to decline by $6 billion in January. This is the first increase since January 2009 and the biggest since July 2008. After the financial crisis deepened in the fall of 2008, the economy fell into recession and consumers stopped spending and worked down their debt levels. On a year-on-year basis, consumer credit is down 4.2%. The increase in January was led by non-revolving debt, such as auto loans, personal loans and student loans, which rose $6.62 billion or 5%. Credit-card debt fell $1.67 billion, or 2.4%, to $864.4 billion. This is the record 16h straight monthly drop in credit card debt
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Post by exabi on Mar 5, 2010 15:04:25 GMT -5
Not sure how many bought in March....buying was not all-in overnite.
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Post by elle on Mar 5, 2010 15:06:38 GMT -5
No, wasn't all in overnight, but if they want to start getting out, they'll want to take the market as high as possible. Look at the buying volume in March and it's been going down almost ever since until it soared again on Feb low. Hmmmmm.
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Post by triggerhappy on Mar 5, 2010 15:10:01 GMT -5
Haven't been short. Now might be a good time...
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Post by elle on Mar 5, 2010 15:13:41 GMT -5
Haven't been short. Now might be a good time... Feels like jumping in front of a moving train, but if TSO would just hit the 200, I'll jump. LT Cap Gains is interesting to consider. Suppose, they rocket the market up, not just today but extending to March purchases and then sell it off slowly during 2010 as each 1 yr is reached. I mean we have 16 unfilled gaps below on SPY. It's a scenario worth considering.
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Post by elle on Mar 5, 2010 15:16:43 GMT -5
I WISH Uka could see THIS! I hope he has a whole bunch of long positions and can't believe his eyes when he logs on.
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Post by elle on Mar 5, 2010 15:17:35 GMT -5
Uh-oh, wait, the black crows - oh, no, I hope he's not short. But then a lot of stocks are not really doing much.
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Post by deadmoney95 on Mar 5, 2010 15:21:50 GMT -5
LT Cap Gains is interesting to consider. Suppose, they rocket the market up, not just today but extending to March purchases and then sell it off slowly during 2010 as each 1 yr is reached. I mean we have 16 unfilled gaps below on SPY. It's a scenario worth considering. Agreed. This is precisely the kind of thing many technicians fail to account for or consider. Exalt! And yes, here's hoping UK gets a pleasant surprise from today's action.
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