Indices took a tumble on Greece political mayhem, Greece stock market @ 20 year low. This took a major toll in world markets.
Markets tried to find its footing but still fell short of a classic V bottom.
S&P 500 @ low today was down 4.77% from its recent high of 1415.32.
RSI @ 40.91
Internals were :
Down volume led by 2.66 to 1 in NYSE & 2.06 to 1 in Nasdaq
Declining stocks led by 1.52 to 1 in NYSE & 1.07 to 1 in Nasdaq
New 52 wk lows were leading, 74 in NYSE & 94 in Nasdaq
VIX closed UP @ 19.05
Oil closed Down @ $97.01
Gold closed Down @ $1604.50
AH Futures, Asian Markets, Oil & Gold Down
About market, we are overdue for an "oversold bounce". TAPE has been WEAK. Many stocks are trading @ multi- month lows. Many sectors are WEAK. Technical health of this market does not bode well for a sustained move UP. Few areas of market are showing strength for a bounce, CMF is green in S&P 500 & DOW, Nasdaq still negative, but improving. The way we closed today, gives hope for a "green close on Wednesday".
BLOG does NOT give buy or sell.
Saleem
15 comments:
SALEEM
good morning to ya
Market is heading lower--A green close , now that would be nice!
Gold silver copper down again, However BDI up real nice day rates are getting stronger! Hence the reason for the Shippers to be green yesterday? they all look down in Pre Market..
APPLE is down again
Very best to all
UP
Did you get some APPLE calls? I did not
C
...
Hi C,
Yes green close after 5 days of tumble will be very nice.
Greece & Spain taking control of world market......
Saleem
C
I bought AAPL calls low of the day yesterday and sold when it hit 369+. In this market, when gains are present it to me, I will take it.
Saleem
It is a shame that market down everyday and we can't even see a good bounce. Like you, I really think it is a matter of time when we see one.
Hi Up,
Hopefully...by close we get a much anticipated bounce.......
Good move in daytrading these days.
Saleem
Saleem
Yesterday's end day move is very powerful. If it is not for Spain, future should be green now. But anyway, I might buy the open
Hi Up,
PERFECT V BOTTOM is when we erase all the loss & close green for the day.....which i am expecting today.
Good luck with your purchase.
Saleem
UP
Congratulations
Profit is great in this market
C
I am stepping out
catch up with you all later
Hello all
Hope no oner bought
The market swooned at 10;20 still going lower
"May is go away C" just kidding
one tough market
best to all
C
Option on AMZN is bullish. I am watching it very close. I get some MS @15.44. Look like downside is limited
C
One thing I have to say about AMZN is it had not participate on this years rally and with earning confirm last quarter, I think it will hit high of the year before pulling back. When looking at chart, it is overbought but i compare this stock to AAPL when it go up everyday until it hit 600+.
UP
I like MS
I am researching it now may get some at $15.60
GLTA
Hey Saleem,
LEN is one crazy animal!
Glad to see many good stocks turn positive today :).
Stocktrader
Stocktrader
lots of green
EXC is my cash cow --up good today even CNQ up
I got some MS
Hope for close at $16 giddy up!!!!!!!!
Saleem
look at the volume--yup up she goes
I smell victory in the after noon
We used to say --in Vietnam -- The smell of Napalm was victory! I am getting old
I am giddy over the green FCX and SCCO are up amazing
C
Hi Stocktader,
I am glad that many of your stocks are in "bull mode"......patience is virtue, especially "near bottom"
Saleem
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