S&P 500 & Nasdaq closed just fractions below high of the day, while Dow close was near high of the day.
Indices closed UP 1.17% to 1.31%.
S&P 500 high was 1324.31, closed @ 1324.18
RSI @ 49.50
Internals were :
UP volume led by 6.09 to 1 in NYSE & 4.47 to 1 in Nasdaq
Advancing stocks led by 3.57 to 1 in NYSE & 2.24 to 1 in Nasdaq
New 52 wk LOWS were leading by 18 in NYSE & 15 in Nasdaq
VIX Down 6.24% @ 22.09
Oil @ $83.32
Gold @ $1613.80
Stocks which were UP 1% or more included LVS,
KORS,M,LULU,CLF,TCK,GG,AUY,SU,MU,
BRCM,VECO,JDSU,CIEN,FNSR,C,SNDK.......
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, why we went down yesterday did not make sense & why we went up today does not make sense either, it was same news flow for two days. TAPE is behaving in a very erratic manner not based on fundamental or technical, it IS BLACK BOX driven. India's economic report was terrible gain, industrial output was up only .1% vs expectations of 2%, that economy is hurtling down FAST?. On the positive side, CMF in all indices are getting close to green. Focus more on your stock selections, than DAILY direction of this market. IF history is our guide then Wednesday should be lower?
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
The skepticism of today's rally is so pervasive that I think we can actually see followthrough tomorrow. I see semis leading (QCOM chart on cusp of nice breakout, INTC looking good too) which tells me we could be ready to move, since semis usually lead the broad market from these crash-type declines.
Interested to see what tomorrow will bring...
Stocktrader
Hi Stocktrader,
Yes.... QCOM chart is looking good..just looked @ it.
Market will do what it needs to do..i am sticking with my stock selection......
Saleem
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