September 28 – Still A Mixed bag

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Last week I pointed out the differences that I was seeing in the General Markets. For example the SPX, NASDAQ, RUT & IBX , XBI ( LABU) were all acting a bit differently.  Let's revisit a few of those charts ...

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SPX - The SPX looks ready to break out higher, but I had mentioned that I felt that the upside is limited, since each prior break out has simply moved up, gone sideways, and then dipped back to the 50sma. I'd still be ready to lock in profits in the near future.

Now let's look at the NASDAQ...

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Shaken, Not Stirred – Sept 27

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My emails were mostly asking about the Precious Metals and Energy,  so that it what I spent my time on.

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Tuesday – September 26

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Let's take a look at Mondays action, and basically things are still playing out as expected in the past couple of weeks reports.

 

NASDAQ - From the weekend report, I started seeing weakness in the Nasdaqs internals, so I mentioned this in the weekend report with this chart...

"I have to wonder if the NASDAQ upside is limited here too. I would use a tight trailing stop now, if I was long."

 

NASDAQ - The Nasdaq dropped 83 points at one point on Monday.

HMMM-  Read the chart

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