Levels to watch

Must hold that 1278 level on the S&P or we will head lower.

Back to the same

Back to the same sell the rallies. We were up 250 on the DOW this morning and we gave it all back wow.

Let's get some volume

Let's get some volume this month and I am sure we will have an excellent month.
Oil, Gold and commodities all crushed here, Lets see if they lift the market on this.
I am still in a bearish mood but think they can push us to that 1325 level on the S&P, we will see soon enough as 1305 is strong resistance.


MARKETJEDI

Can't wait for next week

This volume is just anemic, I can't wait for next week to get a good gauge of the market. Dont get all bullish on this low volume upside because when the real money comes in we might be in sell mode. I heard something today on Fast Money about traders buying out of the money calls on the financials and we must take note of that. In my opinion financials are dead money but maybe some traders think they might get alittle bounce.
How to play this is my usual SKF long. SKF below $105 is a gift as we have played here many times for over $20+ profits. Today it closed @ $116 and if its gap down tomorrow I might poke it again.
This quarter will be the worst quarter for the financials and maybe some think because of that we might find a bottom here, no chance in hell.
The dollar looks like it wants higher and that should bode bad for the commodity sector. Oil looks like it might break $110 this time on this test lower. I would not be surprise if it did after today's action. Lets see what the hurricane has in store for us on that front.

Have a safe holiday if I dont post till monday.

Disturbing News- FDIC

The FDIC is announcing that they are considering borrowing funds from the Treasury in lieu of 9 Bank Failures.
That's bad because I think there are alot more bank failures to come. I guess all they will do is print money and put the nation in more debt for future generations

Banks

Banks are trying to move higher today. Many are trading at high of day at noon here.

Low Volume

Nothing but low volume- My best guess today is we go up as we had a chance to sell off but no volume came in so maybe we drift up.
This is just painful with little or no volume.


MARKETJEDI