Indices were subject to profit taking as RSI went into 76 area......
One needs to be extra cautious when RSI goes into 76.....currently RSI is @ 73.62....
Market TAPE dictates RSI range.....so far 76 area came today?
Today we had all the reason to do a "strong"follow through BUT did not happen...thus my hasty booking of profit in AAPL,AMZN & BAC......AUY was a small loss as Gold took a major drubbing...
I always monitor TAPE closely on a daily basis to adjust (buy or sell) to any "new reality".....
Internals of the market were almost 2 to 1 on the downside..again a technical weakness while indices were mixed ???
Traders needs to be "vigilant"......
AH MOS was a beat UP 3.21%
AH AGU UP .99%
AH POT UP 2.14%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
Gold UP
BLOG does NOT give buy or sell.
Saleem
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