A weak reflex bounce

• Considering how deeply oversold we are, the rally which we saw yesterday was not at all impressive. Typical reflex bounces end at other end of range. That is a very weak and tepid bounce. 
• The 800 pound gorilla in the market currently is the banking sector. They were making new lows yesterday. Compare that to  November reflex rally, you had them reversing and heading higher. That makes the action of yesterday very suspect. 
• Top sectors are:
  
• • MG113,Agricultural Chemicals
    MG132,Copper
    MG717,General Entertainment
    MG725,Broadcasting-Radio
    MG738,Auto Parts Stores
    MG741,Sporting Goods Stores
    MG747,Apparel Stores
    MG821,Multimedia & Graphics Software
    MG834,Semiconductor-Integrated Cir
    MG850,-Internet-
    MG852,Internet Information Providers
• Bottom Sectors are:
  • MG313,Housewares & Accessories
    MG328,Office Supplies
    MG417,Regional-Pacific Banks
    MG425,Credit Services
    MG431,Life Insurance
    MG444,Reit-Hotel/Motel
    MG447,Reit-Retail
    MG523,Health Care Plans
    MG629,Textile Manufacturing
    MG712,Resorts & Casinos
    MG771,Major Airlines
     
• Stocks near their 52 week high are:
  • AIPC
    AZO
    CVTX
    CYCL
    DLTR
    EGO
    GMCR
    HOTT
    IDEV
    INSM
    IWOV
    MIN
    MYGN
    NFLX
    NITE
    ORLY
    PCG
    PSD
    TEVA
    TNDM
    VR
    WTR
     
• Stocks showing up in short scans are: 
  • COCO
  • PALM
  • APOL
  • POT
  • DV
  • ESI
  • USB
  • WFC
  • JPM
  • ORCL
  • NTRS
  • MA
  • IPI
  • KGC