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
SALEEM
ReplyDeletethe 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,
ReplyDeleteEuropean resolution is giving a "lift to markets" around the world.....
Enjoy S&P 500 golden cross @ open$$$
Saleem
SALEEM
ReplyDeletemarket 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,
ReplyDeleteNO..i have not sold anything YET?
Good luck with your buys.
Saleem
Saleem
ReplyDeleteWhat do u think about AMZN's earning. I assume they will have a very strong Q, since ups beat
Saleem
ReplyDeleteIf RIMM doesn't closed above 16.72, then it will show a bearish engulf. Bad sign?
Hi Up,
ReplyDeleteObviously, 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,
ReplyDeleteI expect markets to improve by close & RIMM should follow market....
Saleem
Saleem
ReplyDeleteI 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
ReplyDeleteX is breaking out of an ascending triangle. If chart is correct, it will hit 40 soon.
Hey Up,
ReplyDeleteI 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,
ReplyDeleteThanks for the alert on X.....i doubled my position in AMZN...otherwise i would have gone 70/30....
Watching X closely.
Saleem
HELLO all
ReplyDeleteI 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,
ReplyDeleteCNBC knows it all?
Saleem
C
ReplyDeleteThe 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.