S&P 500 & Nasdaq closed below 50 DMA while Dow closed above......
Dow MAY be leading other indices into technical health....
Today's close was NOT as bad as it could have been.....
There was lot of selling into open & many stocks dropped to its support level...
Technically strong stocks bounced back nicely into minor loss or some mustered even green close....
Today's TAPE is giving lot of hope for a green close on Thursday......
RSI @ close has reached deeply oversold levels as listed below:
Nasdaq 41.83
S&P 500 42.51
Dow 44.44
VIX closed UP 4.49% to 24.91...upper end of range...means overbought ????
AH JDSU ER was a miss on revenue ....Stock down AH 8.10% in AH volume of 1.44 million
AH Futures are green
AH Nikkei Down..catching up as they were closed for last 2 days....
AH all Asian market are down..will not be surprised to see green by close...
AH Oil,Gold,Silver UP
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi All,
Dang sold my VXX too soon!
Sell in May and go away maybe back in vogue this year.
Many very tasty prices available but we could be headed into the summer doldrums where better prices can be had.
I'm a buyer of ASIA, GE, GNK, CAAS on a pullback. GNK got a buy rating with target of $30.
Best Regards
Hi Standards,
Euro is causing latest grief for the market.....hopefully when Euro is stable then market will find footing...
Close should be interesting.
Saleem
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