Please enable javascript in your browser to view this site!

S&P snaps back above former support lows- a minor positive.

Snapback for S&P with prices having regained 2434, which is a minor positive, despite the deterioration in Financials, and breadth remains still down by 2/1 ratio.. with volume also flowing into DOWN vs UP stocks at a similar rate-  Nonetheless. being back up above 2434 is a minor positive into mid-day-   Energy and Materials still lagging all sectors, but Financials also down 0.70 bps.. and tough to be too bullish on snapback in US Markets with Financials so weak-   US Dollar up off early lows.. very stretched here, but BUY SIGNALS on daily charts still 2-3 days away-  TNX also down to prior June lows while Gold has stretched up to the highest levels this year-   overall, the key development concerns S&P snapping back over prior support that was broken.. but simply puts markets back into consolidation.. and No Man's land.. so still not all that bullish just yet until 2460 can be exceeded