Yesterday we had a nice pullback right down to a prior support point at 1355, and got a decent bounce, but this morning we dropped again and went right through it, only to quickly reverse and get back above it. The support there is intact but proven vulnerable. It does appear, however, that we are in for a period of weakness; how long and how weak I don't know, but if the volume trend continues, not long and not that weak. XLF is way out front today, with XLI and XLE lagging way behind. The Nasdaq and Russell 2000 are both leading substantially. Oil is down, gold up, treasury yields up.
I have 64 new highs so far, with breakouts in VVUS, OREX, DSCO, LINTA, MIC, CBOU, SXCI, THI, and AUY. Froom last night I have reports from CLR, up 0.5%, NUVA down 4%, OAS up 3.7%, RGR down 3.6%, and TYL up 0.3%. From this morning I have GPOR down 2.5%. All the others I has scheduled for this morning are reporting after the close.
