Sentiment Remains Subdued at Midday

The market is still trying to bounce off its lows of the session. Most of the trends I mentioned in my opening post are still in place. But bond yields have firmed, with the 10-yr yield bouncing to 3.50%.

Sentiment is still downbeat. The ARMS Index is high at 1.40; the put/call ratio is elevated at 1.08; and the ISEE Index is subdued at 111. Most participants remain more skeptical of the recent market advance than optimistic.

There are very few stocks rising on good volume today. Here are few:

• WW, ICLR, BVN, LNN, DVN

But there are lots of stocks declining on above-average volume:

• AMN, CHIC, CCU, HAE, ACAS, KCI, FIF, KVA, ATB, MATK, SLAB, OMI, WDC