Sons and Daughters of BBCMF , Dow 30 With Point and Figure Charts , Dow Discussion...

[mick]

Market View: Early run but advance stalls at midday (TECHX) : The stock market gapped higher at the start of the session amid some favorable earnings (ORCL +4.4%, NKE -1.8%) and the still positive Fed related vibe. The former stock helped the Nasdaq 100 pace the market averages higher while the latter issue plunged roughly 6% off its opening high. The indices extended the early move into midday but paused in the vicinity of Thursday's highs (Wednesday highs for Nasdaq) with a choppy consolidation between morning lows and midday highs dominating into the close. While the market tacked on impressive gains this week --Materials (XLB) and Energy (XLE) paced the way-- and staged a breakout of a multi-week trading range, outside of the five hours of trade immediately following the Fed announcement into early Wednesday, narrowly confined action was the norm. Sectors firmer today included: Internet +1.5%, Oil Service +1.2%, Steel +1.7% and Telecom +1.1%. Groups on the defensive included: Home Construction -1.3%, Gold -0.6%, Tobacco -0.4% and Bank -0.4%.