Report Date 08/18/2011
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  Market Action and Futures Trading with Tradesight Levels from Prior Session
ES with Tradesight Levels:
NQ with Tradesight Levels:
ZN (10-year Treasury Note) with Tradesight Levels:
ES with Tradesight Market Directional Tool:
  Tradesight Market Overview
The SP lost 2 handles on the day as the market worked through the August option cycle unraveling. Price remains boxed up and might remain contained for the rest of the week. Note that the MACD is trying to make a bullish crossover.

Naz was much weaker than the broad market losing 24 on the day. Keep in mind that until reclaimed, the 2200 level is key resistance.

Multi sector daily chart:

The put/call ratio popped above the 1.10 oversold threshold.

The Dow/gold ratio recorded a new low close:

The XAU was top gun on the day adding 1%.

The BKX was stronger than the broad market but is still contained in what could be a bear flag pattern.

The OSX is still trapped in the 3 day range:

The SOX is still hugging the lower channel. The MACD has made a positive cross but price has not yet confirmed the move.

The BTK was weak but slightly stronger than the NDX: