Indices fought their way back to almost breakeven. Indices were down .05% to .25%.
Internals were :
Down volume led by 2.46 to 1 in NYSE & 1.48 to 1 in Nasdaq
Declining stocks led by 1.70 to 1 in NYSE & 1.98 to 1 in Nasdaq
52 wk highs held the lead, 148 in NYSE & 52 in Nasdaq
VIX closed UP 4.70% @ 19.40
Oil closed @ $98.78
Gold closed @ $1734.40
About market, it seems that 1300 in S&P 500 was short term support. Selling was mild & went for 3 day's only. We are all set to move higher to test resistance which is @ 1350 area. S&P 500 should have "golden cross" @ open as we are only .92 away. 200 DMA @ 1257.20 & 50 DMA @ 1256.28.
S&P 500 closed @ 1313.01...RSI @ 62.91.......
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
15 comments:
SALEEM
the market is looking rosey here.... pre market up nice
APPLE in break out mode--whoa!
J Cramer loves BRCM, KLAC and BC: the boats are for the rich people who are buying again.
Smile
C
Hi C,
European resolution is giving a "lift to markets" around the world.....
Enjoy S&P 500 golden cross @ open$$$
Saleem
SALEEM
market sure turned direction FAST
did you sell any thing??
I sold KMP, CSX bought some KMI and T, and KLAC
I have 10% caash
regards to all
Hi C,
NO..i have not sold anything YET?
Good luck with your buys.
Saleem
Saleem
What do u think about AMZN's earning. I assume they will have a very strong Q, since ups beat
Saleem
If RIMM doesn't closed above 16.72, then it will show a bearish engulf. Bad sign?
Hi Up,
Obviously, i am expecting a good report from AMZN....
It is also important to note, there is too much negativity about AMZN ER...which may be a good sign for price appreciation.....
Saleem
Hi Up,
I expect markets to improve by close & RIMM should follow market....
Saleem
Saleem
I also think AMZN will beat big time too and stock will go up, same like APPL did. I am going to buy some shares.
Saleem
X is breaking out of an ascending triangle. If chart is correct, it will hit 40 soon.
Hey Up,
I see the same thing on X. As long as it holds the breakout level of $29 it should be a nice run :). The 200 DMA might give it some resistance for a while, but the basing pattern was lengthy and so the 200 DMA is probably only a pause point and not a stop point. It helps that the stock sold off ahead of earnings and is moving higher now--it means all the weak longs should be mostly out.
Stocktrader
Hi Up & Stocktrader,
Thanks for the alert on X.....i doubled my position in AMZN...otherwise i would have gone 70/30....
Watching X closely.
Saleem
HELLO all
I did not like CNBC nock on AMAZON--they said not to buy.
To risky they stated, as no profit in the tablets
Oh Boy!!
C
Hi C,
CNBC knows it all?
Saleem
C
The way Amazon did was give something up for free but that free stuff will roll in profit. Kindle Fire is just a tool for them to grow their online business.
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