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In America:

Dow Industrials -0.23%
Dow Transports -0.67%
SP500 -0.27%
Russell 2000 -1.21%
Nasdaq100 -0.72%

Comment: The American market traded for a half day today. Results were mixed with the Dow Industrials and SP500 down a little, but the more volatile Transports, Small Caps and Nasdaq down quite a bit more. Volume was miniscule. Dow Industrials and SP500 had late day sell off to take them into negative territory. Traders not holding over the weekend? Or something more serious?

Yesterday: NewHighs/NewLows 33/170. Today: NewHighs/NewLows 44/129. New Highs increased, New Lows decreased. That’s not what you expect on a down day.

Technical Comment on the Dow Industrials:
The Dow finished at 11231.8. Marginally below oblique support
Indicators:
* Stochastic: 2.6. Oversold
* RSI.9 is at 29.1. Oversold. Could go lower – but not much.
* MACD Histogram. Below Zero. Negative. But rising. (A signal for shorts to take profits.)
* MACD. Below Zero. Negative
* CCI.14: -159. Now hooking up.

Two indicators are now rising (CCI and MACD Histogram). I wouldn’t take that as a signal to go long – but it does give an alert.

Here’s an update on VXX – Futures on the VIX Index (Volatility or Fear Index).

VXX (VIX Futures) continue to defy logic. The chart remains in the upsloping wedge – it “should” be up there around 55/60. Beats me.

Finally, here’s the NYMO Chart. (This a breadth indicator based on net Advances-Declines). Rarely does it get below -100 before a rebound. But usually a positive divergence is seen before a sustainable upward movement. That occurred in September before the strong upward rally in October:

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