Indices tested support & made a V bottom.
S&P 500 closed @ 1409.93
RSI @ 53.48
CMF +0.048
Internals were :
UP volume led by 3.93 to 1 in NYSE & 3.20 to 1 in Nasdaq
Advancing stocks led by 2.23 to 1 in NYSE & 1.58 to 1 in Nasdaq
Net new 52 wk highs were leading by 56 in NYSE & 1 in Nasdaq
VIX closed Down 2.58% @ 15.51
Oil closed @ $86.49
Gold closed @ $1716.50
AH ER WDAY UP 1.52%
Stocks which were UP 1% or more included AMZN,JCP,KORS,RIMM,
APKT,CRUS,M,CMG,AUY,GG,
AEM,EXPE,PCLN,LULU,GOOG,
BIDU,COH,GMCR,ZNGA,LRCX,MU,
JDSU,FNSR,SBUX,BWLD,X,STLD,CCJ,ECA,
MGA,BAC,MS,GS,WYNN,LVS......
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, S&P 500 made a higher low & closed higher than recent high.I believe that S&P 500 could take out much dreaded 1420 with ease. Staying bullish has been productive & exposure can be expanded now. I am @ 64% exposure which is highest in several weeks.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
I have no idea how the market is maintaining any gains at all with this political rhetoric, but it is an extremely good sign.
Stocktrader
Hi Stocktrader,
It is called TV jaw boning...seen that 1000 times.....Market knows that all these big talkers will be thrown out if they dont solve fiscal cliff.
Saleem
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