Indices took a pause today, Nasdaq closed green.
S&P 500 @ 1500.18
RSI @ 71.98
CMF @ 0.481
Internals were :
UP volume led by .65 to 1 in NYSE & 1.23 to 1 in Nasdaq
Advancing stocks led by .76 to 1 in NYSE & 1.32 to 1 in Nasdaq
Net new 52 wk highs were leading by 293 in NYSE & 180 in Nasdaq
VIX UP 5.28% @ 13.57
Oil closed @ $96.44
Gold closed @ $1652.90
AH ER :
STX Down 4.84%
VMW Down 14.57%
YHOO UP 2.90%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE remains in bullish mode contrary to what Carter Worth & other pundits are pointing out. I believe TAPE is in the mode of taking us into new all time highs in S&P 500 before any pullback. My thesis is based on momentum of this TAPE as evidenced by today's flattish close.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteLots of action to digest today: YHOO, VMW, EMC, STLD, FIO, and GWAY all have moving pieces that I need to follow.
Sold GWAY @ 15.33 avg based on the reseller closing. GWAY was already getting squeezed a bit from competitive pressures, and the closing of this reseller tips the scales for me in terms of risk. It also caused a definitive break in the chart. I'll stay on the sidelines for now and see what happens.
At least STLD is a bright spot today! :)
Stocktrader
Hi Stocktrader,
ReplyDeleteMarket keeps chugging higher but...my portfolio is down......what else is new....
Adjusting to news or weakness is a prudent strategy......
Saleem