Market Alert - To the close

Stock indices are off modestly overall. SOX up modestly, most other indices flattish, RUTX off 0.7%.

Basically an overall modest test with even recent leaders fading some gains. Biotechs/drugs are struggling more than others, financials as well.

Stock leaders started lower, sold further. Oil weakened, falling below $51/bbl and closing below $51. Oil stocks managed to recover lost ground, however. Most leadership groups performed the same, more or less.

It looks as if the pullback is on, again quite modest overall. Overall. There are some thumps as always though even those are holding support.

We took some gain as planned, e.g. AGIO, EVHC. Have not bought anything and not really planning to today. As for exits, the financials are lower for four or so days and we are inclined to let them rebound if they can.

SP500 -2.59, -0.12%
NASDAQ -13.57, -0.28%
DJ30 -14.11, -0.08%
SP400 -0.22%
RUTX -0.61%
SOX +0.10%

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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http://www.investmenthouse.com/alertkey.htm


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