- resistance holding tight
- super light volume as index traded in a narrow range
NDX
- resistance and volume holds as the theme here
XLF
- stuck in the resistance area...
USO
- big drop on light volume
- still looks very weak and wanting to retest lows
VIX
- small ranges in the indexes these past few sessions has really took a beating on the VIX
- support below might lend a boost...
- and yup...this is the culprit in the case of bad options pricing today
A/D
- overall a very sideways looking day...
- edge goes to bulls yet again
Analysis: I must say, i've taken more naps in these past several trading days than i ever have before...i guess that marks that we are now in the quiet before the storm...2 scenarios can prevail...either these low volume sideways trading days is concidered the break bulls needed before they give us another leg up...OR...the bulls have bought all they wanted and next up will be a push down by the bears to a point where bargain hunters will again buy like crazy pushing the market ever higher...either way, within a month, we will be higher...but will this week end higher or lower? tough question...
Sectors:
best - tan, dba, fxi, gdx, xlu, xlf
worst - uga, uso, oih, xrt, xle, smh
looking kind of random in this sector analysis...but oil and energy i guess were weak...but overall, most sectors were +/- 2 to 3% today..just overall a sideways day even when breaking it down by sector
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