The ES was higher on the day by 3 handles. Since the day’s candle was positive but settled under the open, a camouflage sell signal was recorded. Note that the MACD has been at an extreme high level for some time and is beginning to leak.
Naz made a new high and new closing high on the move, adding 7 points to the run. Like the SP, the Naz posted a camouflage sell signal.
Multi sector daily chart:
The 10-day Trin is neutral at about 1.1 which means it is neither overbought nor oversold.
The OSX was the top performing sector. The day’s range made a new high on the move but didn’t settle at a new high.
The XAU is retesting the prior high which is where many short sellers make their living. If price rolls over and takes out the October lows, the shorts will get proactive.
The SOX posted a sloppy candle. Nearly, but not quite qualifying as an “outside day down”. An outside day down would have been recorded if the close was below the real body of the prior candle.
The biotech’s remain range bound—-nothing new technically.
The BKX continues to sport a downside bias. Price matched the prior low close in mid October.
Oil moved back up near the top of the recent trading range.
Gold was slightly lower on the day. Note that the price pattern has an exhaustion signal on deck. The next candle that settles at or above the close of the red number 8 candle (10/13/10) will register a 13 exhaustion sell signal.
