At this moment, the markets are mixed. For the most part, the broader market indexes showed significant strength early in the session with SPY and DIA punching out new highs for 2009, but stocks reversed around 10:15 and are testing the lows of the session right now. The Nasdaq (QQQQ) is showing some relative strength to the S&P 500 (SPY). Intraday, the Russell 2000 (IWM) is relatively strong compared to the Nasdaq. The Dow Jones Industrial Average (DIA) is showing slight relative weakness to the S&P 500 and the Financials (XLF) are doing the worst today. Both the Dollar (UUP) and Gold (GLD) are up today which is interesting to see. Normally they will move opposite each other as the Dollar is normally inversely correlated to Gold and Equities. The VIX is lower by 1.1%. The TICK and TRIN are bearish. Keep an eye on the Federal Reserve Beige Book announcement coming out around 2pm. That report has serious market moving potential. If you are a day trader then days like today are good for you. As for me, a swing trader, I still do not like the action we have seen on the daily charts over the past few weeks. However, at least we did not have a huge gap in one direction or the other today. Gaps are normally manageable, but when all the markets do is gap up or down (see the daily chart of the past two weeks), it is very hard to predict, let alone trade. Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately. Happy Trading, Jason
Halftime Report, Wednesday December 2: Mixed
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