Reply #56: 3:13 update. Any last hour surprises today?

[54anickel]

Dow 10,182.62 +83.99 (+0.83%)
Nasdaq 1,858.50 +21.61 (+1.18%)
S&P 500 1,104.51 +8.32 (+0.76%)
10-yr Bond 4.256% -0.027
30-yr Bond 5.044% -0.026
NYSE Volume 943,582,000
Nasdaq Volume 1,044,928,000

3:05PM: Sellers remain a scarce entity as equities continue to march higher, aided by the consistent drop in the price of crude oil... The commodity has plummeted almost $2 to $43.35/bbl - its lowest levels in two weeks... CNBC has noted that increased margin requirements for crude contracts goes into effect today... The strength of equities has diminished the extent of the bond market's climb higher today, with the 10-year note up just 3 ticks (for a yield of 4.26%)... The treasury market was up higher earlier today on the much weaker than expected July New Home Sales report...NYSE Adv/Dec 2317/997, Nasdaq Adv/Dec 1942/1098

2:30PM: After pausing at the top of the hour, equities take off again and stretch for new highs... Crude oil has remained on its downward path and plunged 4% to $43.40/bbl now... The broad-based nature of industry leadership has also propelled the indices even higher and kept selling interest fairly lower... Most of the buying has gone into areas that have been hardest hit during the mid-summer sell-off (semiconductor, biotech, brokerage)... Groups that have shown relative weakness, not surprisingly, have been consumer staple sectors such as household product and beverage....

Right now, the only industry to still be showing losses is homebuilding - off the disappointing July New Home Sales report...NYSE Adv/Dec 2205/1060, Nasdaq Adv/Dec 1810/1183