S&P 500 above 200 DMA....NICE !!!!

S&P 500 & Nasdaq are firmly in green..while Dow goes in & out of green......

Most stocks are firmly in green as they were washed out & had gone back to April level..a huge retracement.....

Technicians should be happy with this retest of lows which was completed yesterday...but they will still sing an old song..."retest is coming to Wall Street"

So ...how much we retraced in indices from recent highs..here is the number :

S&P 500 high 956.23...retest low 869.32 =<86.91> or <9.01%>
Dow high 8877.93..retest low 8087.19 =<790.74> or <8.91%>
Nasdaq high 1879.92..retest low 1727.05 =<152.87> or <8.13%>

As you can see that on any pullback most indices follow each other ....but stocks take a much bigger hit depending on their BETA....high beta can retrace up to 50% easy on 9% pullback...

Gold UP $5.20 to $914.20

OIL UP 3 cents to $60.17

Canadian $ UP 40 tick against US$

Portfolio is GNK,IPI,MRVL,SOL,TLM.....

Most stocks are UP......

BLOG does NOT give buy or sell.

Saleem