IF you are looking for an answer about today's tape from media ala CNBC, you will think we are going downhill because we did not finished above 200 DMA in all Indices......????
The reality IS that today's TAPE was very constructive....because we went to higher HIGHS & actually crossed 200 DMA in Dow & Nasdaq closed ABOVE 200 DMA again.....
Opinions & FACTS are contradictory when it comes to CNBC reporting......
Generally indices do not close 200 DMA in first attempt......
Internals of the market were more than OK as listed below :
UP volume led by 1.13 to 1 in NYSE & 1.23 to 1 in Nasdaq
Advancing stocks led by 1.62 to 1 in NYSE & 1.27 to 1 in Nasdaq
New 52 wk highs led in both NYSE & Nasdaq
Stocks which were up by 3% or more included SNDK,PIR,CREE,
ASIA,LSCC......
AH Futures are UP
AH Nikkei Down
AH Oil UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
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