Late Sell Off But Bulls Hangin In There

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The Dow was up 86.74 to 9154.46, but traded nearly 90 points higher earlier in the day. The S&P 500 was up 11.60 to 986.75, about 10 points off the high, and the Nasdaq 100 closed up 10.26 at 1601.97, but gave back 22 points off its high.

Advance-declines were positive by 4 to 1 on New York and 2 12 to 1 on Nasdaq. Up/down volume was 2 1/2 to 1 positive on New York on total volume of nearly 1.35 billion. Nasdaq traded nearly 2 ½ billion and had a 16 t o 9 positive volume ratio.

So the technicals confirmed the positive session, but the last-hour sell-off put a big dent in the day’s final results.

Asia is up so far and is being led by energy. Exxon and Shell lost a bunch of money in their earnings reports and theere is no demand. The dollar was about flat today, but it didnt rise so that helped energy and material prices. We had a decent sell off near the end of the day, we’ll see tomorrow if it meant anything. GDP at 8:30 and the bulls are clearly in charge.

I want to get some shorts on the list in case this market starts to get weak.The patterns look nice regardless of market conditions though. I will see you in the morning and may pop out a pre market video again.