All indices were UP from 1.44% to 1.99%..Nasdaq being the strongest.....
AH INTC strong ER giving lift to all techs in AH...INTC UP another 7.04% AH in huge volume of 18.69 million shares in AH...
Internals were strong all over..even Nasdaq had more new 52 wk highs today..first time since test of 1010 in S&P 500.....
Volume also was higher.....
ONLY surprise of today was..... that VIX actually moved UP .53% to 24.56 ?
Technically speaking Dow closed above 50 DMA & is only 7 points away from closing above 200 DMA also......good technical picture....
S&P 500 also went above 50 DMA but closed fractions lower.....
RSI in S&P 500 is 55.98.....60 area MAY trigger profit taking......
AH Futures are UP
AH Asian markets UP
AH Gold Down
AH Oil UP
BLOG does NOT give buy or sell.
Saleem
2 comments:
Saleem,
I know you will cash out profit as you see it. However, I think SNDK will retest new high soon. What's your thought? Thanks.
Michael
Hi Michael,
SNDK has a very high probability of hitting new highs....
I may buy it back on Friday or sooner depending on the price.
Booking profit is never a bad idea especially when indices have moved UP six days in a row.....
Last time market corrected big time after seven days of gain ????
Saleem
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