Indices staged a strong reversal, closing @ best level of the day.
S&P 500 closed @ 1315.99
Internals were :
UP volume led by 5.32 to 1 in NYSE & 5.16 to 1 in Nasdaq
Advancing stocks led by 5.92 to 1 in NYSE & 3.30 to 1 in Nasdaq
New 52 wk lows were leading, 59 in NYSE & 103 in Nasdaq
VIX closed Down 12.31% @ 22.02
Oil closed @ $92.57
Gold closed @ $1588.70
Stocks which were UP 3% or more included RIMM,COH,LVS,
LEN,KORS,BIDU,APKT,CLF,FFIV,VMW,LULU,PCLN,
AAPL,OTEX,CNQ,MOS,SLW,SU,MA,V,BRCM,VECO,
JDSU,CIEN,FNSR,SNDK.......
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, today was a deeply oversold bounce. IF we have a follow through on Tuesday on decent volume, then this rally may have legs.IF we close on a high note like today, then the next level to watch is 1340, then 1360 & finally 1380.58 which is 50 DMA. I personally do not believe that we have seasonal strength or money flow to go through 50 DMA. SO...this rally has a sell written above 1360 area.
BLOG does NOT give buy or sell.
Saleem
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