Market Alert - To the Close

AAPL announces a water resistant iPhone (that is why no headphone jack) and is up 0.62%. Easy there big boy. Pattern remains bullish.

FOMC Beige Book is beige in its economic assessment. 'Modest to moderate growth,' slightly upward wage pressures with specialized areas garnering more gains. Pretty standard blah, blah, blah from a Beige Book.

RUTX is at a new recovery high (+0.47%), SP400 threatening a new closing high, NASDAQ as well but by a hair. SP500, DJ30 going nowhere in their ranges. SOX is heavy thanks to AMD and its share announcement. SOX as a result is threatening its 2nd close below the 10 day EMA in the past 2 months. Sounds similar to NASDAQ does it not? But, NASDAQ did hold and rebound. Oh, the NASDAQ big names are mostly quiet today though FB is higher again.

We are looking at positions on KITE, CSX and FL, perhaps XXIA. AMD is dogging it and will take the rest of the gain off the table unless it surges in the next few minutes. PLAY has shown some game action, rallying back from its session low enough to leave it working.

Once again no big follow through for an index moving to a higher high, but RUTX is moving nicely after just a session off. As with our 1% GDP economy, if you get 2% you think you are flying, eh?

Okay, looking at those positions so be ready for the alerts. Some options have traded on them, KITE options are a bit pricey and a bit wide on the spread. We will try to run rabbit and narrow the spread for the rest of you as the market maker will likely move the bid price to our offer price.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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