The Streak is Broken

The market halted is losing streak at 4 days, but there wasn't much excitement in today's trading. Volume rose slightly on the NYSE, while breadth was mixed. The A/D line was positive, but the Hi/Lo Index was -4. With more stocks making new lows than new highs, it certainly speaks volumes about the lack of leadership in the market.

The Nasdaq fared better. New highs outnumber new lows by +22. GOOG reversed lower today, but MSTR was up, as was AAPL, GRMN, and INFY. Healthcare stocks fared well today also.

The market is now short-term oversold. And just about the time everyone seems to have given up on a Santa Claus rally, it just might surface. That would fit with the market keeping the herd on its toes.

Have a great night--