S&P 500 Recap

S&P is down nine points this morning due to the weak jobs number and weaker than expected ISM. Yesterday we had a gap down of five points due to the latest batch of earnings reports were less than inspiring. And with the dollar rising overnight it looked like the bears retained possession as the open approached. 
 
The session began with a significant gap lower, moving down a quick five points before bouncing. But at 10:00 am the bounce ended and the SPX spent the next hour in decline, testing the intraday lows. After a successful test, the index moved higher to test the highs of the day which held. But from noon through 3:00 the index steadily moved lower giving up ten points. The closing hour saw a significant bounce as the SPX reclaimed almost seven points to close at 60% of the eleven point range.


For the S&P Index there were 176 components advancing and 300 components declining. On the NYSE 3,157 issues were traded with 1,066 advancing issues and 1,974 retreating issues, a ratio of 1.85 to one declining. There were 141 new highs and 22 new lows. The five day moving average of New Highs is 297 while the five day moving average of New Lows is 14 and the ten day moving average of Net Advancing is 619. The Net Advancing data remains bullish. But the Mcllelan Oscillator and Summation Index are getting toppy. 

We usually get a test of the breakout so its normal, good point to re-enter, added to my BGU position  this am at  87.76