Indices closed near best level of the day. Nasdaq closed green.
S&P 500 closed @ 1406.29
RSI @ 52.15
CMF closed green @ +0.053...first time since wk 1 of October.
Internals were :
Down volume led by 1.52 to 1 in NYSE & .60 to 1 in Nasdaq
Declining stocks led by 1.31 to 1 in NYSE & .84 to 1 in Nasdaq
Net new 52 wk highs were leading by 64 in NYSE & 19 in Nasdaq
VIX closed UP 2.44% @ 15.51
Oil closed @ $87.74
Gold closed @ $1749.60
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Technicians were disappointed with their prediction of a selloff. Nasdaq closing green was a major challenge to bear thesis. IBD tonight is saying "market in confirmed uptrend"...I knew that !!!!
Suggest maintaining bullish posture as news should get better.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hey Saleem,
My plan going into today was to start getting more cautious and look to put on some TZA again. Instead I bought STLD hastily at 12.99478 this morning. Now that I'm back for good this morning, I hope to make some better thought-through decisions. I'm not sure what today or going forward will hold--it seems good news is being shrugged off now...
Stocktrader
Hi Stocktrader,
Focus is back on democrats & republicans.....not on good news about Greece or economy.....
Saleem
Hey Saleem,
At least the $RUT and $VIX behaving well. We might have hope today yet :).
Stocktrader
Hi Stocktrader,
We have more than hope going for us..APKT & CF "on the move again"
Saleem
Hey Saleem,
Well of course I love our picks! That's a given! :)
Stocktrader
Hey Saleem,
Take a look at ELOQ. It looks like a nice base formed and ready to move higher. It's my largest position as you know and I love the future prospects.
Stocktrader
Hi Stocktrader,
Thanks for your recommendation of ELOQ....i will definitely do my DD today......
Saleem
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