Indices gave up all their gains & closed slightly RED......
Nasdaq volume was heavier than average....volume was slightly ahead on the other indices....
Internals were extremely weak as listed below :
Declining stocks led by 19 to 10 in NYSE & 17 to 8 in Nasdaq ..almost 2 to 1 lead by declining stocks ..NOT a good sign for technical health of the market.....
RSI in S&P 500 is 37.84 which gives me hope for a turnaround......
2.15 Fed statement is released which MAY give reason for positive TAPE....
Obama speaks AH with his "state of the Union".....Market MAY react on Thursday....
Solar stocks staged a rebound as analysts and news flow is becoming positive.....many upgrades on a daily basis..SOLF seems to be in every analyst upgrade......
AH Futures are mixed
AH Nikkei UP
AH Hang Seng UP
AH Shanghai Down
BLOG does NOT give buy or sell.
Saleem
2 comments:
SALEEM
what a lousy market
My APPLE is dying as is my GNK
Yuk
I should have sold yesterday--
Darn
God bless all
Hi C,
Market is getting deeply oversold..so a bounce is "overdue"....then you should sell some to adjust to change in profile of market....
When good news is bad news & bad news is bad news...then market is saying something....TAPE rules always.....
Saleem
Post a Comment