Too Much Chop
The pattern of alternating strength and weakness continues for a fifth straight day, but one difference this time is that we are seeing a bounce rather than a trend day early on. If the market can hold above the opening lows, that would be a good sign. But if 150.40 of the SPDR S&P 500 (SPY) is breached, watch for sell stops to trigger.
Breadth is running about 1800 to 3100, which is not too hot, and other than minor strength in metals, there isn't much sector action. Netflix (NFLX), my stock of the week, continues to be a leader, but Apple (AAPL) is rolling over again and the lack of leadership continues to be an issue....99 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.