Indices were down in heavy volume.
Nasdaq was the worst performer again...
Internals of Nasdaq were as follows :
Down volume led by 4.56 to 1
Declining stocks led by 4 to 1
More new 52 wk lows than highs
All indices are barely above 50 DMA......as listed below :
S&P 500 6.03 from 50 DMA
Nasdaq 8.40 from 50 DMA
Dow 198.47 from 50 DMA
RSI in indices are as follows :
Nasdaq 43.63
S&P 500 46.10
Dow 50.00
These readings are getting awfully close to being "deeply oversold"
There is a chance that we MAY rally after dipping below 50 DMA in Nasdaq & S&P 500.....reasons being that we do NOT go down usually in a straight line....also sentiments is extremely negative....which usually brings a reversal ?
AH ER URBN UP 1.11%
AH Futures Down
AH Asian markets Down
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
4 comments:
S
Good Morning
Market looking week
J Cramer says more selling coming!
APPLE is on sale here as is FCX
BIDU is green..
I would think that the market is way over sold?
My oil plays are hammered
Regards to all
Hi C,
We MAY get a "technical bounce" today.....
Gold is looking better than silver..BUT silver is deeply oversold.
Cramer follows momentum..changes his opinion every 5 mts depending on the TAPE...claims victory even when he is wrong....he can be a good politician..will fit well in DC.
Saleem
S
the market is kicking down big time
when will the sun shine--soon I hope
lots of bargins out there! \EVEP is on sale and was upgraded!
this is one big hit today
Hi C,
Do not follow EVEP....
This is a "normal market" ..should find support around here.
Saleem
Post a Comment