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
2 comments:
Hey Saleem,
Lots 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,
Market keeps chugging higher but...my portfolio is down......what else is new....
Adjusting to news or weakness is a prudent strategy......
Saleem
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