Strong Stocks Stronger, Indices Holding

The DJIA and S&P (SPX) are positive just over one hour into trading this morning while the Nasdaq and Russell (RUT) are down slightly. The DJIA has made a slightly lower low while the SPX, Nasdaq and RUT are all forming an inside day. This indicates like the lower candle shadows on Friday, that selling pressure is taking a break at least for now. What has not yet appeared is buying momentum to shift price action to the upside. The indices are still in a down trend so any upward movement at this time would be counter trend. Ag-related stocks POT, CF and AGU are continuing their support bounce move to the upside this morning. MOS which was down in early trading is now positive and MON is down slightly at the moment. Coal stocks are moving higher with a strong support bounce this morning. KOL the coal etf is bouncing to the upside in it six day bull flag. ANR is breaking out of resistance to new highs. BTU has bounced to resistance watch for a break out. MEE bounced to resistance.