Nightly Update

The Diamonds ETF (DIA)
Today was a very slow day and the lightest volume day of the year on everything (NDX, QQQQ, SPY, INDU, SPX , YM and ES). It was an inside day- meaning we didn't take out the highs or the lows.There was some volatility; we dropped as much as we rallied and we closed down 1 penny below where we opened on the Diamonds (DIA). You can see throught out the noon intraday we had the biggest drop on the lightes volume. Then during the last hour we came back to close unchanged on the day for the DIA. The DIA clossed down 0.07% at 109.050.

S&P 500 SPDR's ETF (SPY)
The SPY daily chart continues to consolidate within its symmetrical triangle and yet it is holding its uptrend line. Basically the SPY is only down slightly for the month. It also had an inside day, it is above support and yet below resistance. It also had it's lowest volume day of the year. Bottom line the SPY is performing better than the commodity indexes although I would characterize its movement as Boring. The SPY closed down -0.18% at 126.410.

Nasdaq 100 Index (NDX)
The Nasdaq is down 2.86% on the month. As with the DIA and SPY, the NDX also had it's lowest volume day of the year. The NDX remains above support and below resistance within its falling wedge. The NDX closed down -1.08% at 1645.83.


Overseas Markets: German DAX Composite (DAX)
The overseas markets continue to rally and are on fire. The FTSE, DAX and the French CAC 40 Index (CAC) continue to out perform the US markets. The DAX is hitting multi year highs. Today the DAX had an outside bullish reversal, and as you can see on the daily chart, it is parabolic up. Today it closed just under the 52 week highs at 5756.33.