Strength of this market was evident again, indices went from being red to closing green.Nasdaq was the strongest of all.
Internals were :
UP volume led by 1.43 to 1 in NYSE & 1.73 to 1 in Nasdaq
Advancing stocks led by 1.38 to 1 in NYSE & 1.31 to 1 in Nasdaq
New 52 wk highs were in the lead, 154 in NYSE & 99 in Nasdaq
VIX closed UP 3% @ 18.18
Oil closed @ $98.71
Gold closed @ $1731.30
AH ER :
CSCO Down .20%
WFM Down 1.21%
TQNT Down 8.92%
V UP 3.09%
AKAM UP 12.80%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
Chinese inflation data came in hotter than expected, CPI expectations 4.1%, actual 4.5%.PPI expectations .6%, actual .7%......US Jobless claims are more significant than Chinese data.
S&P 500 closed @ 1349.96
RSI ranging from Dow 69.67, S&P 500 74.79 & Nasdaq 79.80.
About market, we are entering a blow off stage which should propel into 1380 area or higher in S&P 500.
BLOG does NOT give buy or sell.
Saleem
10 comments:
SALEEM
why I love FCX
Stock is a Buy.
Moving Average Convergence/Divergence (MACD) indicates a Bullish Trend.
Chart pattern indicates a Strong Upward Trend.
Relative Strength is Bullish.
Up/Down volume pattern indicates that the stock is under Accumulation.
The 50 day Moving Average is rising which is Bullish.
The 200 day Moving Average is falling which is Bearish.
Price is under Support of 46.89 which is Bearish.
RSI--65
So buy some if you like the analysis!
Just my .02 cents
I am thinking of taking my 11% profit in MWE any suggestions as it has had a fantastic run
C
Hi C,
MWE chart is "fantastic"..although i do not follow that sector......i looked @ it just now.....i say stay with it until it hit 83 RSI...currently @ 78.13.....
Good luck $$$$$
Saleem
SALEEM
Thank You!!!
Saleem
Looks like amazon is down with the retailers today
We be green by lunch time!
C
Hi C,
AMZN is weak in high volume..in 39 mts it has 25% of average volume already?
Not a good picture????
Saleem
Saleem
do we hold or sit it out?
thanks
Hi C,
Its better to hold @ these level, i am going to watch IF it shows a rebound.
Saleem
Hey Saleem,
Sold my SWC at 13.986 average.
Stocktrader
Hey Saleem,
Bought GGC at $32.28 average. It was nearly impossible to get even 1300 shares without offering well above the ask. I don't know if that is good or bad, but it surprised me.
Stocktrader
Hi Stocktrader,
Good trades with $$$$$$.
Market is strong ..thus a market order is the only way to go.
Dont know GGC......
Saleem
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