Indices corrected after making series of higher highs......
Volume was below average in this selling.....
Tape was bearish ....
Internals were led by decliners & down volume by a wide margin.....
www.stockcharts.com has turned bearish in all indices with a downside target as listed below :
S&P 500 880
Dow 8300
Nasdaq 1740
All of the above target implies 2 more days of selling......
As we have Option Expiry this Friday a triple witching.....indices may be "pinned down by market makers to square off their position with their own objective/prices"
Now those of you who are well diversified in many sectors with good FA/TA ...have nothing to worry.....
Most vulnerable are those "sexy names/high fliers" who always corrects sharply in any selling...OE also brings many stocks to "certain strike levels".....
I am expecting that by Thursday mid-day..OE will finish its "game playing"...
Following stocks were among green today :
MRVL,SOL,CTRN,NDN,AMTD,BIDU,V,WFR....
AH YGE doing a secondary offering 15.5 million shares ..proceed estimated @ $163.1 million...
AH Futures mini red...
AH Nikkei Down 1.45% .....
BLOG does NOT give buy or sell.
Saleem
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