Nasdaq & S&P 500 had their highest close in over 18 months...Dow was barely down 3 points.
Volume was higher than yesterday towards normal range.....
Market internals were positive ....
New 52 wk high remains strong.....
RSI in Indices ended in the highest range for 3.5 weeks.....NEVER observed this since March???
Here is the close in RSI :
Dow 72.27
Nasdaq 72.86
S&P 500 74.67
RSI for the last month is giving an extremely bullish tape...does not want to give up strength...unusual BUT decisive.....
SO...it is wise to follow the TAPE...when it breaks down..then become bearish.....that is the lesson which I had to learn without too much damage to my equity.....
Lately close have been pretty impressive......
Stocks which moved UP 3% or more included RIMM,BIDU,AMZN,CIEN,
FNSR,CNXT,FUQI......
AH futures Down slightly
AH Nikkei UP
AH Singapore UP
AH Oil Down slightly
AH Gold Down slightly
BLOG does NOT give buy or sell.
Saleem
GOOD morning to you Saleem
ReplyDeleteLooks like the market may take a break.
FAST MONEY was screaming about Amazon and RIMM-to Buy
BAc was slated as one of the best banks to buy. Apple still is recommended!
Standard pacific--SPF as a Builder buy!
So it should be an interesting trading day
I still got my divi plays going as I felt like it was time to be fully invested but conservative plays
thoughts
Best to all
SALEEM
ReplyDeleteRimm may begin a sell off
Hmmm
Hi C,
ReplyDeleteVery interesting market...majority of stocks are GREEN......
Bullish bias still prevails.
Saleem
SALEEM
ReplyDeleteIs RIMM going to drop below $70 today
seems like a fight is going on??
thanks
Hi C,
ReplyDeleteRIMM was UP 3.5% yesterday..so a rest is not a bad idea.....
It barely dipped to $69.99....
IF you want to buy....right now it is not a bad price.....
Saleem