Indices closed down on worries about Europe & Fiscal cliff.
S&P 500 closed @ 1374.53
RSI @ 32.34
CMF @ -0.061
Internals were :
Down volume led by 2.24 to 1 in NYSE & 2.35 to 1 in Nasdaq
Declining stocks led by 2.13 to 1 in NYSE & 2.10 to 1 in Nasdaq
Net new 52 wk lows were leading by 82 in NYSE & 101 in Nasdaq
VIX closed down .18% @ 16.65
Oil closed @ $85.38
Gold closed @ $1724.80
AH ER / News :
MOS Down 5.10%
POT Down 1.50%
CF Down 1.41%
AGU Down 1.35%
CSCO UP 7.54%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE has been extremely weak since election & have closed below 200 DMA for four days in S&P 500. CSCO may ignite buying which gives a chance for booking profit. I am of the view that there is so much technical damage, that we may resume downward move from Thursday onwards. One number to keep in mind that we need to close well above 1381.58 in S&P 500, this is 200 DMA.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteI'm with you on that. I feel the technical damage and these late day selloffs each day is bad for the underpinning of the market. I have a feeling we might even sell off tomorrow's up open. I don't know how people will deal with the daily reminder of the lack of resolution on the fiscal cliff--and it could drag on for over a month still.
Stocktrader
Hi Stocktrader,
ReplyDeleteRetail sales will reflect Sandy & Noreast storm....may counter CSCO effect ?
YES..we have a long 7 more weeks for politicians to play their game....
Obama has a press conference....you know what happens when Obama hit the airwaves...sell sell sell so far...
Lot to chew on for Wednesday...
Saleem
S
ReplyDeleteso far a positive PM
IBD still says a correction!
RNF closed up--nice As I very little to cheer about
MCN is interesting here as is APPLE
C
S
ReplyDeleteSorry
I did not mean MCN but MCD
so sad, my bad
c
Hi C,
ReplyDeleteRNF was UP , good for you.
Europe is down which is not a good thing.
Good luck for today.
Saleem