Reply #46: 1:08 and mixed messages now appearing

[54anickel]

Dow 11,275.73 +33.14 (+0.29%)
Nasdaq 2,088.03 -4.30 (-0.21%)
S&P 500 1,282.18 +1.91 (+0.15%)
10-yr Bond 4.903 -0.048 (-0.97%)
30-yr Bond 4.998 -0.037 (-0.73%)
NYSE Volume 1,450,507,000
Nasdaq Volume 1,081,041,000

1:00 pm : Major averages continue to trade in split fashion as market internals now suggest a mixed bias. After painting a very bullish picture most of the morning and underscoring the improved underlying tone that clearly became evident last week, market breadth continues to deteriorate. While advancers on the NYSE still outpace decliners, the more than 6-to-1 edge they enjoyed during the first hour of trading has long since disappeared as that ratio has been trimmed to a 3-to-2 margin. On the Nasdaq, decliners now outpace advancers, holding a 15-to-12 edge as ongoing concerns about stock option irregularities continue to plague the tech sector. DJ30 +26.09 NASDAQ -6.80 SOX -0.3% SP500 +0.68 NASDAQ Dec/Adv/Vol 1581/1275/1.06 bln NYSE Dec/Adv/Vol 1280/1893/942 mln

12:30 pm : Indices continue to weaken as the afternoon session gets underway. A reversal in Technology (-0.2%), spearheaded by further deterioration in Apple Computer (AAPL 65.14 -4.45), continues to weigh most heavily on the broader market and especially the Nasdaq, where APPL has been the most heavily traded stock. To wit, the tech-heavy Composite has recently turned negative and is now on pace to close down for the week.DJ30 +27.18 NASDAQ -4.51 SP500 +1.13 NASDAQ Dec/Adv/Vol 1419/1421/986 mln NYSE Dec/Adv/Vol 1189/1972/882 mln