Henry Ford's MarketWatch LIVE!

5:11 PM
WRAPUPWent off to take care of servers today...nothing going on in the markets...We just need to wait out the !3 hour RSI and MACD for the next round. Tomorrow has a slew of reports both before and after the bell including GDP and the all important Chicago PMI and the Beige book...We are also in the "window dressing" period when 'Dogs" are sold and the darlings' are put on the books...This will last through Fridayand always promises a little volatility.Close Dow -31.85 at 8680.03, Nasdaq +8.94 at 1344.19, S&P +3.83 at 902.78: [BRIEFING.COM] Closing Summary: It could have been a lot worse. Many feared a sell-off today following a run-up in the market over the last four sessions, with a huge move yesterday. The market opened lower, but when the sell-off was not so severe, the bulls felt confident to move the market higher. However, the tides turned late in the session to leave the market near unchanged breaking four consecutive sessions of rallying into the close. Weighing on the market this morning was a lower than expected July Consumer Confidence report. It fell to 97.1, weaker than the 101.5 consensus. The decline was undoubtedly due to the stock market plunge in July, and may well be partly reversed in August if the recent market improvement is sustained. Nonetheless, it sent the market lower. The market pushed higher as Pres Bush discussed and signed into law a corporate reform bill. Also helping was Dell (DELL) making positive comments and a CNN report that some high-level U.S. officials believe that Osama bin Laden is dead... Technology stocks were mostly mixed with semiconductors, semi equipment and PCs showed the strongest moves. Also strong were utilities, wireless, biotech, oil services, airlines, drugs, cable, gold, casinos. On the down side, retailers were hurt by the confidence report. Also weak were safe haven sectors such as food, beverage, consumer products. A number of cyclicals were also weak: chemicals, machinery, integrated oil, paper, homebuilders... Market psychology has improved considerably over the past week. Barring another large corporate scandal, look for the market to continue building momentum as fence-sitters start put money to work for fear of missing out on next major advance. DJTA +0.4%... DJUA +7.1%... SOX +2.9%... DOT +1.2%... XOI -0.5%... BTK +4.8%... Nasdaq 100 +1.1%... S&P Midcap 400 +0.8%... Russell 2000 +0.0%... NYSE Adv/Dec 1770/1476... Nasdaq Adv/Dec 1833/1566.
:: Henry Ford ::

1:29 PM
UPDATEComing up against major resistance level 910.50 on the SP futures...a break through here should lead higher once again...may leave that gap in the dust

:: Henry Ford ::

12:52 PM
UPDATEWell...floor traders pushed the SP500 Futures over yesterday's highs momentarily to take out stops and were quickly dropped....still no clear indication, as the SP and DOW are in divergent directions...
:: Henry Ford ::

12:01 PM
UPDATEInto the lunch hour with still no clear direction for the rest of the day.
:: Henry Ford ::

11:04 AM
UPDATEStill no clue as to whether we are just going to consolidate here and surge higher, or go down an fill the gap first as we would like to see...
:: Henry Ford ::

9:53 AM
FIBONACCI'S AND THE GAPHere is a chart of the SP500 futures. Yesterday if you recall, (see archive) we discussed the islands that had been left below by opening gap.. It is our hope that these gaps are closed sooner rather than later. Also notice that the bottom of the gap exactly coincides with a retracement of 38% off of yesterday's high. In a perfect world......

:: Henry Ford ::

9:48 AM
UPDATE

:: Henry Ford ::

9:33 AM
CALENDAR Consumer Confidence report due out at 10AM EST...A sharp decline seems assured given massive equity losses now re-entering as a key economic risk. Briefing.com expects drop to 101.0 vs 106.4 in June... Seeing broad weakness across techs, cyclicals, defensive sectors... Morgan Stanley is out with an allocation call in which they raised stocks to 70% from 68%. While not much of a bump, it's their first increase in equities to their Macroscope Global Balanced Portfolio in 2 years.

:: Henry Ford ::

9:17 AM
SUBSCRIBER SITEWe have been going through the birthing pains of putting a new server on line last night and today. We appreciate this is annoying, but there will be periodic failures as we may need to reboot throughout the day. We have been up for two days getting this transition done, but there never is a "good" time to do it. We appreciate your patience during this period. If a page doesnt load, give it a few minutes and try again....Thanks, Henry. PLEASE make sure that you log in through the pitbullinvestor.com main subscriber area so we have you registered.You will have immediate access and you will be able to select your own unique user name and password which will not expire and be used for all your pitbullinvestor.com online services. It also has built in features to send you email before any of your individual services expires, so that you won't miss out. If you are currently a Stocktables.com customer, you might consider using your same user name and password you registered there, (different site), so that your login to all of our services sites will be the same. We know you have been looking for this feature for a long time....we have too. With multiple services and multiple expirations it was a logistical nightmare....let us know what you think and of any problems.
:: Henry Ford ::

9:13 AM
GOOD MORNINGLooks like a negative open based on Fair Value of the SP500 futures. We closed out the day on a very overbought basis, so would be natural to see a little pullback here.
:: Henry Ford ::

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