kaltbaum midday

Well…a bunch of things reversing…with some things strong. But still a lot of damage being done unless the nasdaq and russell reverse. As of this second, dow is masking things as MRK,PG and CVX making things better but no doubt, market is trying to defend its turf here.

 

Underneath the surface:

 

Housing remains very strong. Not only reverses but is strong today.

 

V and SHW hold the 50 day to the penny.

 

AAPL just looks like a pullback on its chart.

 

Discounters like TJX,ROST are fine…and DLTR still holding. TGT just broke out.

 

PETM not budging.

 

Do not get me wrong…market has issues but just thinking downside could also be contained this second…but plenty of crappy areas and charts still out there.

 

Will be back with more tonight.