US Market Update The bulls got their higher open but could not...

US Market Update

The bulls got their higher open but could not hold that gap.

The financial sector was the weakest component, reversing yesterday's gains, while a positive energy sector helped the index offset those losses. Consumer staples, utilities and real estate were positive on a defensive mentality.

Breadth declined steadily from the open and the VIX (-5.84%) was uncharacteristically subdued as expiration of front month futures comes in to play.

Gold got some attention again today with GCM8 up (1348.60, +.50%) for obvious reasons, even as the USD index held steady (89.795, +.05%).

May WTI held up as well (67.39, +.48%) with geopolitical tensions increasing.


SPX/ES/SPY: 2656.30/2659.25/265.15
The SPX gapped higher to resistance at 2680.26 and tested the 30 day sma and 50% retrace of the most recent downtrend, but the 2650 area seemed the safest refuge in a weekend that portends risky business. ES_F returned to its overnight balance area of 2657 after a foray into gradually thinner participation.

Market Internals
Advance-Decline Lines: -353.00. NYSE Breadth: -1.39:1, NASDAQ Breadth: -2.54:1. NYSE TICK: Cumulative TICK was mildly positive until noon, but commenced a downtrend to the neutral line into the close. TRIN: 1.08

NYSE MOC: -121M on balance. NYSE composite volume 718298.

Implied Volatility
VXJ8:17.93, VXK8:18.12, VIX:17.41

Debt/Bond/Treasury
ZNM8 ended flat +.03% after trying to gain ground within yesterday's range. The 10 Year Treasury yield remains at 2.83%

US ETF indices



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