Market Alert - To the Close

DJ30 undercut the September low while NASDAQ tested it. Both have rebounded to hold over that low. SP500 undercut and has rebounded, but it is still well below that low. SP400 is at a lower selloff low but has rebounded. RUTX at a new lower low as well. SOX has tested the 50 day SMA, holding a rebound back over that level.

SP500 -13.96, -0.65%
NASDAQ -34.10, -0.66%
DJ30 -103.06, -0.57%
SP400 -0.89%
RUTX -1.21%
SOX -0.91%

Indeed most stocks are rebounding sharply into the close. We were looking at S puts, PH, and GLW puts. S has jumped back too strong. GLW is still lagging. PH is off the lows but still down. Watching them over the next few minutes.

We took some gain on the SPY puts as they hit the target. Now seeing how this bounce plays out for new entries and if some stocks can recover off the lows.



Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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