Market Alert - To the Close

Definitely a small and midcap kind of session with those indices leading the action, SOX not too far behind.

SP500 4.72, 0.22%
NASDAQ 16.90, 0.32%
DJ30 19.05, 0.10%
SP400 0.53%
RUTX 0.79%
SOX 0.49%

Semiconductors and biotechs are a bit soft (read flattish) after stronger starts. That applies to many stocks today: solid start and rally but struggling to hold the move. Still good position and patterns, just some money flowing to small and midcaps on this day.

Rotation and money moving to new areas are indications of a market that remains healthy. SPY weakened the past half hour so we will see if it can hang on into the close.

Picked up some CELG and C; not bad patterns still, but they came back on us after first jumping after we entered.

Will see how the indices close as stocks are weakening toward the close and SP500, DJ30 may have trouble holding gains. Midcaps, small caps, however, still look good.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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