Indices @ close are in good health technically speaking..all major index are above 50 DMA...
Volume was above average on this strong bounce......
Most traders/technicians were left wondering as to where this rally came from......all severe corrections do end abruptly when nobody is expecting it......
RSI has been a good indicator of overbought/oversold conditions...which assist me in decision making...
Solar stocks came to life despite drubbing taken by FSLR..which is a sign of solar turnaround....
Many stocks were UP double digits.......which said a lot about severe oversold conditions/short covering.....
AH futures are down
AH Nikkei UP 1.12%
As expected VIX took a drubbing today Down 11.29% closing @ 24.76...
BLOG does NOT give buy or sell.
Saleem
7 comments:
SALEEM
Looks like a week open to me
I would think that HL is poised for a jump up form here! I sent a chart that shows bullish cross over and accumulation/distribution shows bullish signal
I was looking for further run up
Hmmmm
thoughts
Hi Madmax,
I am busy buying up TSL added more this AM.
HL is a great stock with "wild swing"
IF silver is UP then HL goes UP...
Saleem
Hi Saleem,
Maybe short covering yesterday? Everything I follow is still heading south. Charts are pointing south. Financials, Semi's, Telecom, Shipping. Has there been a sector rotation?
Best Regards
Hi Standards,
This market is now "stock specific"
All sectors are weak but some individual stocks are behaving relatively better.....
See TSL in solar..still green while whole sector is RED.....
I am hoping for a better close.
Saleem
Saleem
this all could be manipulation by the MM
I do see some green! But make my words this market is on thin ice here,
We had good news yesterday and CNBC and it ilk blew it off. Yeks -- is there no end to the negative sentiment??
Thoughts
Hi Madmax,
TAPE is certainly WEAK.....
Hoping that close will bring some buyers !!!!
Saleem
Hi Madmax,
That's an ugly chart after yesterdays run up. A temporary head fake on the way lower? Retail does not buy one day and sell the next. Must be the dark side gaining strength! A Halloween trick or treat? :)
Best Regards
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