Markets tried to regain its footing by closing near unchanged levels....UP Volume was in the lead...
BUT..declining stocks still maintained their lead and new 52 wk high list was tilting towards lows.....
Best thing about today's trading was.... that the old leaders were showing renewed strength..RIMM,POT,GS,IPI,CCJ,AGU,MA,V,AMTD were among rebounding stocks....
All sectors have been beaten down.....to support levels which only proves that profit needs to be booked as markets are trying to build a base within a range before moving on UP......
Nasdaq still maintaining golden cross and has come to its support also...this should give us a "healthy RUNUP to the top end of its recent range which is 114 Nasdaq points away or another 6.5%"......
AH ORCL came in with better than expected ER and is UP 3.07% on a volume of 4.29 million shares......
AH Futures are mini red ..but I expect a strong close on Wed...thanks to Fed statement @ 2.15 PM......
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Oversold to set a new base, yes I agree and its good. Fear will be with the market for many, many months to come. So a trading range may be developing.............?
BDI 3800 range finding a new range.
Best Regards
Hi Standards,
Based on history..after every golden cross in S&P 500....there is a sustained rally for almost 4 years....???
Also S&P 500 goes UP 27% after golden cross...in first year...
Total return in 4 years 140%..after golden cross......
Food for thought $$$$$
Saleem
what's a golden cross
SALEEM
Please explain the golden cross
GE and GS are strong again
Lets make some $
Hi Dug & Madmax,
When 50 DMA is higher than 200 DMA it is called golden cross..it works in stocks & Indices.....
It is the-most desired technical indicator.....
Technicians also measure how high we are OR how low we are to determine buying or selling strategy !!!
% move UP or down from golden cross CAN determine oversold or overbought condition....
Saleem
Post a Comment