Trading

It was looking very good for bulls until about 2:30pm when profit takers swooped in... (source: Mr. Swing) - RSS and News widget on Feedzilla.com

LA TIMES Given their druthers, people would rather see their own primarycare... (source: Mr. Swing) - RSS news feeds and Widgets on Feedzilla.com

I wont get into all the dogmatic arguments that surround the massive income... (source: Mr. Swing) - News widgets and RSS feeds on Feedzilla.com

Market Internals update at 3:30pmET
- NYSE volume 825M shares, about 3% above its three-month average; decliners lead advancers by 1.2:1.
- NASDAQ volume 2.18B shares, about 23% above its three-month average; decliners lead advancers by 1.1:1.
- VIX index +0.5% to just under 18.00

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I wanted to highlight an important lesson we can learn from the recent breakout... (source: Mr. Swing) - RSS news feeds and Widgets on Feedzilla.com

Market Internals update at 2:00pmET
- NYSE volume 610M shares, about even to its three-month average; advancers lead decliners by 1.7:1.
- NASDAQ volume 1.66B shares, about 22% above its three-month average; advancers lead decliners by 1.5:1.
- VIX index -1.35% to just over 17.50

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Market Internals update at 12:00pmET
- NYSE volume 400M shares, about 7% below its three-month average; advancers lead decliners by 1.4:1.
- NASDAQ volume 1.1B shares, about 16% above its three-month average; advancers lead decliners by 1.2:1.
- VIX index 0.1% to just over 17.50

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US Market Update
Dow +18 S&P +2.25 NASDAQ 10.3

***Economic Data***
- (US) Feb NFIB Small Business Optimism: 88.0 v 89.3 prior
- (US) ICSC/GS weekly chain store sales w/w March 6th: +2.9% w/w, +3.4% y/y
- (US) Redbook Retail Sales for the week ending Mar 6th: % y/y; MTD % v Feb
- (US) Mar IBD/TIPP Economic Optimism: 45.4 v 46.8 prior
- (MX) Mexico Jan Final Trade Balance: -$333M v -$332.6M prior
(MX) Mexico Feb Consumer Prices M/M: 0.6% v 0.5%e; Y/Y: 4.8% v 4.8%e; Core CPI M/M: 0.4% v 0.4%e

- US markets opened a hair lower on weakness in Europe after another morning with little economic data to speak of. Today is the one-year anniversary of the 2009 stock market bottom. A year ago the S&P500 closed at 666 but now hovers near 1140. Stocks moved up right from the NY open led by the tech heavy NASDAQ. Bond prices opened higher but have relinquished much of the gains as equity momentum built. The 10-year yield is holding 3.7%. Front-month crude is down about a buck, to trade just above the $81 handle.

- Texas Instrument's guidance for its Q1 was right in line with the Street in yesterday's mid-quarter update. Executives said demand is robust in industrial markets, with orders remaining strong in the quarter, driven by the demand side rather than just the supply side. TXN is -3%. Tivo beat top- and bottom-line expectations in its Q4 report, although the firm expects quarterly losses to continue next quarter. TIVO +2%. Kroger also beat expectations at both ends, although its 2010 outlook was slightly soft. Burger King warned that January and February comps were severely impacted by the winter weather, with a loss of 3.0 percentage points to comps. BKC is in the green, along with most of the other fast-food names. Shares of industrial measurement firm Zygo Corp are down 15% on the day after II-VI withdrew its $10/shr acquisition proposal first made back in January. Shares of IIVI are up 4%. Zygo had previously rejected the offer, noting its preference to remain independent. First Solar is in the red despite a big 300MW new contract from PG&E.

- The NY morning was characterized by the dollar retracing earlier price action but remained firmer compared to Tokyo opening levels. The dollar's price action inversely mirrored equities as both European and US exchanges recovered earlier losses. ECB's Weber came out against the proposed European Monetary Fund (EMF) on the grounds that the fund would create moral hazard by encouraging governments to pursue easy fiscal policies. Talk circulated that an EU Draft Document saw Greece's projected tax revenues lower than the €2.4B austerity forecast although the €2.4B in spending cuts appeared sufficient to reach its 2010 budget goal. The document reportedly saw the total Greece debt trajectory moving upwards. EUR/USD is holding below the 1.3590 area while USD/JPY unable to move back above the 90 handle.

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Market Internals update at 10:30amET
- NYSE volume 190M shares, about 22% below its three-month average; advancers lead decliners by 1.1:1.
- NASDAQ volume 550M shares, about 9% above its three-month average; advancers lead decliners by 1.1:1.
- VIX index +0.5% to just over 17.50

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GNVC Daily Trend Model with EW targets... (source: Mr. Swing) - RSS news feeds and Widgets on Feedzilla.com

Today is the 1year anniversary of the market bottom, when the SP 500 touched... (source: Mr. Swing) - RSS news feeds and Widgets on Feedzilla.com

Today is the 1year anniversary of the market bottom, when the SP 500 touched... (source: Mr. Swing) - RSS widgets and RSS feeds on Feedzilla.com

Up big one day ago, gap higher one day ago, large five day gain one day ago, average volume one day ago, and El Nino Seasonal Weather Pattern one day ago. The SP 500 Futures rallies in 91 of the cases 10 of 11 by an average of 5.3 relative to the latest c... (source: Mr. Swing) - RSS widgets and RSS feeds on Feedzilla.com

Up big one day ago, gap higher one day ago, large five day gain one day ago, average volume one day ago, and El Nino Seasonal Weather Pattern one day ago. The SP 500 Futures rallies in 91 of the cases 10 of 11 by an average of 5.3 relative to the latest c... (source: Mr. Swing) - RSS news feeds and Widgets on Feedzilla.com

I recently received a comment asking which chart time frames I was referring to in my explanations of the Japanese candlestick patterns (e.g. fifteen minutes, daily, etc.)? The Japanese candlestick patterns are applicable to all chart time frames, includ... (source: About) - News widgets and RSS feeds on Feedzilla.com