Indices fought back negativity which started overnight in Asia & continued in Europe.
Indices were in red @ open BUT fought its way to green close.
Nasdaq closed @ new high for the year...other indices are very close to old highs......
Internals of the market were strong also as listed below :
UP volume led by 2.72 to 1 in NYSE & 2.67 to 1 in Nasdaq
Advancing stocks led by 1.97 to 1 in NYSE & 1.71 to 1 in Nasdaq
SO...the TAPE was definitely strong for today......
RSI @ close were as follows :
Dow 71.00
S&P 500 71.63
Nasdaq 72.96
RSI remains in "deeply overbought area"......
Strong stocks included BIDU,AAPL,LVS,WYNN,LRCX,
MU,NDN,M,EXPE,MRVL,CIEN,CNXT,SNDK,FMCN,
NVLS,CYMI.....
VIX closed @ 16.87 down .59% BUT VXX was down 1.84%
AH Futures UP
AH Nikkei Down
AH Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
4 comments:
Saleem
looks like housing put damper on market today:
The housing market has been slow to recover after its collapse helped push the nation into recession. Reports on sales, home prices and foreclosure rates have been uneven in recent months.
The National Association of Realtors is expected to say sales of existing homes fell 1 percent in February to a seasonally adjusted annual rate of 5 million units, according to economists polled by Thomson Reuters.
Bad weather across the country and still tight lending and high unemployment were likely the reason sales dipped to their lowest level since last summer.
Treasury Secretary Timothy Geithner is scheduled to testify before Congress about government efforts to overhaul mortgage financiers Fannie Mae and Freddie Mac. The pair, which were essentially taken over by the government during the credit crisis, guarantee a majority of mortgages. The government's support for the two has helped keep interest rates low as part of an effort to help the housing market recover.
Ahead of the opening bell, Dow Jones industrial average futures rose 6, or 0.1 percent, to 10,733. Standard & Poor's 500 index futures rose 0.10, or less than 0.1 percent, to 1,162.10, while Nasdaq 100 index futures rose 0.75, or less than 0.1 percent, to 1,949.2
Hi C,
Market is green.......
Saleem
Saleem
the worm may be turning to a down market
What say you
Smile
Hi C,
Market is in a CHURNING mode..S&P 500 did not make a new high ???
Close should be very interesting...
Saleem
Post a Comment