New Home Sales data was far better than expected, ditto Consumer Confidence. The SPX popped but then collapsed at the 10 AM pivot. RTH moved above 45.54 at the opening bell as anticipated so the bulls were happy. The financials are hurting today. Pay close attention since financials are what everyone expects to lead the continued rally. XLF lost the critical 17.21 bull-bear line in the sand this morning which should lead to strong market selling. However, the bulls are fighting back and the XLF bumps along 15.18-15.23. Look for the potential flush lower with the XLF from here which would immediately drag the broad markets lower. TRIN is 1.33 verifying that the bears are in control today. The 10-year yield is 1.85% stepping lower into further disinflation and deflation. WTIC oil popped above 93 but is now well below again. The euro is 1.3055. The SPX is moving sideways today. The LOD is 1485.01 after the 1488 level failed. Keystone took profits on the EWG short trade exiting the position. Germany should continue to trend lower, will consider reentering short.
Note Added 2/26/13 at 11:56 AM: Note the XLF printing 17.23; market bulls are mounting a come-back, now 17.24. Time will tell. The SPX LOD at 1485.01 holding the sturdy 1485 support level, for now. Market direction depends on XLF 17.21 right now, bulls win above, bears win below. VIX is 18.01. The SPX:VIX ratio is 82 starting to move down towards the critical 68 level which will require watching in the coming days.
Note Added 2/26/13 at 12:38 PM: The XLF is printing 17.32 firmly back in the bull camp; the bulls knew what to pump. The SPX now recovers printing 1493. VIX is 17.28 maintaining elevation above 15.70.
Note Added 2/26/13 at 1:28 PM: XLF is 17.27 so the bulls are hanging in there. VIX is 17.28. TRIN is 0.99 not favoring bulls or bears today. Whichever way the TRIN moves off of 1.00, the broad indexes will move opposite (TRIN down = markets up and TRIN up = markets down).
Note Added 2/26/13 at 2:47 PM: TRIN down to 0.86 so SPX up to 1496. XLF 17.31. VIX 16.98. AAPL punched under the 440 that Keystone has been harpin' about for the last three weeks or so. A tradeable Apple bottom, for a long, should appear at 420-440. Keystone bot IAG, a gold miner, opening a new long position. IAG displays attractive positive divergence on the weekly and daily charts.
Note Added 2/26/13 at 3:42 PM: The SPX near the highs of the day at 1498. TRIN 0.84. VIX 17.02. XLF 17.36. Keystone bot REE, a highly speculative and dangerous rare earth play, opening a new long position. REE is somewhat thinly traded with about 300K shares traded today thus far. REE, and other rare earths, such as MCP, are set up or are setting up with attractive positive divergence.
Terimakasih anda telah membaca artikel tentang Keystone's Midday Market Action 2/26/13. Jika ingin menduplikasi artikel ini diharapkan anda untuk mencantumkan link https://bitcoinlocall.blogspot.com/2013/02/keystone-midday-market-action-22613.html. Terimakasih atas perhatiannya.