Closing Stats

For the most part, the dominant price volume relationship was close down and volume up. Dominance in the relationship could be found in the Dow, the NASDAQ 100 and the S&P-500.

While the relationship was the strongest in the NYSE, it wasn't dominant. The Russell 2000 also didn't have a singular dominant relationship either.

However with the 3 majors posting dominance in Close Down / Volume Up, it's usually taken as a bullish, short term capitulation indication in the market' current configuration.

Much of that volume today was during a period of churning, which also has bullish implications.

Further contributing to the oversold condition, only 5 of 239 industry groups closed in the green.

Of the worst performing groups, there weren't many surprises: Cement, Life Insurance, Aluminum, Paper and Paper Products, Agricultural Chemicals, Education and Training Services, Lumber/Wood Production, Textile Manufacturing, Accidental Health Insurance and Tobacco Products.

One interesting thing about the close... in the last several weeks-month, the last hour of closing trade has been dubbed, "the sour hour" with the market fairly consistently selling off.

While today you couldn't say that the market rallied the last hour, it did manage to to get some foothold.

Beyond that, the market is trading slightly higher in after hours.

I'll need to look through a lot of charts and run scans to get a better feel for what tomorrow and the rest of the week may look like. I'll also post any signals from the Miner Trading System.