Indices closed mixed today, almost near flatline.
S&P 500 low today was 1265.64, but closed @ 1271.83.....same as open....good technical picture.
RSI in S&P 500 @ close is 32.56...staying near lower level.
Volume was lower in all indices.
Internals were weak as listed below :
Down volume led by 457 to 435 in NYSE & 306 to 196 in Nasdaq
Declining stocks led by 1674 to 1357 in NYSE & 1647 to 970 in Nasdaq
New 52 wk lows were leading by 79 to 16 in NYSE & 128 to 32 in Nasdaq
All of the above stat is pointing that selling pressure is waning.
Individual investors are decidedly bearish with only 24% bull vs 48% bears in latest survey..this is the most bearish reading in almost a year......
SO...most investor / trader who wanted to sell have sold already ?
Stocks which closed green included AAPL,MPEL,BWLD,VFC,
IBN,MA,V,JKS,YGE,CSIQ,C,BAC.....
AH Futures Mixed
AH Asian markets Down
AH Gold & Silver UP
AH Oil Down
BLOG does NOT give buy or sell.
Saleem
2 comments:
S
Good Day sir:
J Cramer was more positive about the market
HE now like LULU--says he mispoke to sell it was wrong!
He flip flops
Still have
LULU, BIDU, CAT, VFC, TZOO all are green in pre market
best to all
Hi C,
Jimmy the cramer is too busy changing his mind..does not help traders....buy,buy,buy then sell,sell,sell & then buy all over ?
Saleem
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