Another interesting day in the capital markets. Keeping in line with a likely new format for the Market Recap, below are detailed updates of the model based on today’s close including support and resistance levels.
A few notables first. Volume has picked up slightly the past two days though remains below normal 50MA volume. Breadth stayed weak all day, at one point minus 1,500 issues but settling at minus 600. This market is going to kick and scream any final moves higher and breadth is certainly an indication of resistance to move up.
Oil caught a relief rally likely today, especially amid USD strength and AAPL continues to struggle at 700. Analysis may say it is cheap at current valuations but so far the market is less confident.
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