Trading the SPX

Xerox (XRX:NYSE - commentary - research) said its second-quarter net income rose from the same period a year ago, but the company's adjusted results fell short of Wall Street's estimates, and the copier and printing systems maker offered a disappointing profit forecast.

Down 7.26% pre-market
 
The only problem with housing and predicting what it will do...

Take UK, housing kept going up longer than most people thought it would.. about 3 years more.
Also here, interest rates had been going up, now consumer slowing considerably, housing slowing,UK growth slowing a lot but what is the FTSE doing, Going up!
So does it really make any difference what the economies are like or doing?
The mad bulls will buy when they want and the bears will sell when they want, forget actual shares and what they stand for or do, that is totally irrelevant!
 
Total market volume running behind Fridays pace, showing a lack of participation in this move so far.
Market internals bullish but only modestly so.
I think if we could make 1253 then we could see some concerted downside movement.
 
Yes $TRAN made the breakout while the INDU remains stuck, on the daily chart the transports look as though they could be topping here.
 

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Nope not that weak, holding things up.

What was that about oil being bad for the market? Hmm, looks like if oil goes up a lot more the Dow will look at 11,000! And S&P take off for even higher highs!
 
Typical summer doldrums day, low volume and lethargic.
Total market volume on both markets still lagging Fridays light pace.
Market internals modestly bearish on both markets.
Once earnings starts to wind down in a couple of weeks that will be it until after Labour day
 
Me cynical, noooo.....

I believe everything politicians analysts and brokers tell me ;)
 
Yes Joules :)

And do I spy an intraday H&S on that thar S&P?
 
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