The 61.8% retracement from contract highs contained the market, but just barely.  Shorts covered into the close, so we could see further upside action on a Please Login or Register to read the rest of this content.

Longs were able to punch through the first two 50% retracement resistance areas after they were initially sold off, though only mildly.  We just got a new Please Login or Register to read the rest of this content.

Market internals opened strong, with NYSE adv-decl at 296, since reaching 1947, with the adv:decl ratio at 4.53.  HOWEVER, we got a key sector divergence Please Login or Register to read the rest of this content.

The morning report is now available for download here:

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