TAPE was fixated on Fiscal Cliff swings.
S&P 500 closed @ 1418.10
RSI @ 49.28
CMF @ 0.064
Internals were :
Down volume led by 1.76 to 1 in NYSE & 1.79 to 1 in Nasdaq
Declining issues led by 1.20 to 1 in NYSE & 1.33 to 1 in Nasdaq
Net new 52 wk highs were mixed UP 18 in NYSE & Down 7 in Nasdaq
VIX closed Down .05% @ 19.47
Oil closed @ $90.87
Gold closed @ $1633.70
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold UP.
About market, TAPE is hostage to politicians. It is sad to see the same pattern of waiting till last second is emerging again. It is important to stay in the market than out, one day in next few days we may have a deal & market may explode UP....but reverse may be true also IF there is no agreement by Jan 1, 2013. It is sickening to see this process every year, i sincerely hope, that there has to be a better way to conduct critical decision making.
BLOG does NOT give buy or sell.
Saleem
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