If you remember back at the beginning of the month, I posted a chart with the new monthly standard pivot points, and came to the conclusion that we had a very good chance of hitting 1307, the first pivot point. Well, it looks like we might do it, possibly today, but very likely this week. I fudged the chart a little bit to show the top pivot at 1307, but if you give or take a couple of points it will probably mark the top of this trading range. Among the sectors the leaders today are XLI and XLV, lagging are XLU and XLF. The Nasdaq is leading slightly, the Russell 2000 is lagging slightly. Oil and gold are up, treasury yields up but dropping.
I have 127 new highs so far, with breakouts in MIM, WFM, MNST (formerly HANS), and WPRT. I have BRID scheduled to report but, no surprise, they have not.
