Market Alert - To the Close

Once again no DJ30 as the indices all sag back from the session highs, holding gains, but looking tired. SOX is the exception as it heads to a new rally high with a 1.78% gain.

We picked up some ULTA and some CAVM. LSCC, RIG have toyed with breaks but volume is light and, as on most sessions this week, stocks are having trouble holding onto moves. We will see how they finish.

Not a lot of energy given the strong regional PMI's and the 'good news' of core inflation at 2.1% year/year.

While not a lot of energy in the market overall, positions are holding up well enough and several started lower but have recovered nicely. Accordingly, we are letting positions run. VMC is still struggling, but it has held over the 50 day EMA and the pattern remains bullish.

Indices are trying to rally a bit ahead of the close, but the sellers keep pairing off with the bids.

SP500 9.44, 0.42%
NASDAQ 22.73, 0.42%
DJ30 67.37, 0.34%
SP400 0.42%
RUTX 0.68%
SOX 1.85%

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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