Lighther Volume, Lower Volitility and Smaller Trading Range

DJIA - 5.18, -0.06% SP500 - 2.45, -0.25% NASDAQ Comp. + 5.38, +0.31% Russell 2000 + 0.98, +0.18% Exchange NYSE NASD Advancing 1,963 1,600 Declining 1,508 1,271 Oil $63.91 -$3.90 Gold $726.80 +$8.60 $SOX 237.10 -2.37 Strongest Sectors: XLP +1.53%...XLU +1.04%...XLV +0.75% Weakest Sectors: XLE -3.09%...XLY -2.87%...XLK -1.71% Sector Watch Up Trending: Sideways: Down Trending: XLP, XLF, XLY, XLV, XLI, XLE, XLU, XLB, XLK The DJIA had it's smallest daily trading range since September 3. Ironically Monday was also the lowest DJIA trading volume since Septermber 3. This was attributed to big money remaining on the sidelines until the outcome of the Presidential election on Tuesday. While the broad indices traded in a narrower range on Monday, many individual stocks had strong gains like CVD, ENER, PRU, SPWRA, FSLR, HUM, CLF, UBB, EQ, CTL, CEPH and BIIB.

Oil prices continued their down trend. Inversely airline stocks rose. Look at the charts of ALK, AMR, CAL, DAL, LCC and UAUA.

Index Commentary The DJIA formed a doji and closed above its 20 DMA for the third straight trading day. The SPX formed an inside day, a small black spinning top candle while closing above its 20 DMA for the third straight day. The Nasdaq formed a small white spinning top and closed above its 20 DMA for the second trading day in a row. The RUT formed a small white spinning top that could be seen as a shooting star and closed above its 20 DMA for the second day. Monday’s Action Moving Up: FSLR, LDK, CLF, ZION, DRYS, UAUA,CNX, X, AEM, JASO, LAMR, SOHU, LCC, Moving Down: DECK, MA, GS, NUE, MOS, ANR, V, NIHD, CF, AMZN, BIDU, STRA, NDAQ, MON, MEE, IPI, FWLT, BTU, INFY Intermediate Term Market Trend: Down Short Term Market Trend: Up