Close today does NOT look good technically speaking.....
Today ..there was no follow thru on Friday's rally.....
Dow has the lowest close for 2010....
Internals were taking a beating again as listed below :
Down volume led by 3.12 to 1 in NYSE & 2.82 to 1 in Nasdaq
Declining stocks led by 1.61 to 1 in NYSE & 1.85 to 1 in Nasdaq
New 52 wk low led on both NYSE & Nasdaq.....
Only saving grace is today's much lower volume......
It looks like we MAY do another RETEST of support in major indices......
Green stocks included CRUS,SNDK,AAPL,GOOG,RVBD,ASIA,SOHU,
AGU,EGO,SLW,IAG,AMCC.....
AH Futures are Down.....
AH Gold Down....
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
BDI looking good. Continuing upward trend.
Put buying in options, bears piling on the pain. SEC asleep. Market efficiency? no way. Investor confidence very low from market manipulations.
Best Regards
Hi Standards,
It IS the same old..same old....
Hedge funds in total control in wiping out small traders..then they will take it up....
SEC do not exist for small investors/traders....
Saleem
Hi Saleem, Standards, Mad
I have a feeling today was capitulation and we have a turn around Tuesday. What say you all.
Victor
Hi Victor,
S&P 500 is now down 14.68% @ today's low...RSI near 29.69..all signs of extreme oversold conditions.....
It CAN turn on a dime.....
Saleem
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