Wednesday, January 2, 2013

Indices closed UP 2.35% to 3.07%......NICE !!!!

As politicians disappeared, markets took off.

S&P 500 closed @ 1462.64

RSI @ 63.93

CMF @ 0.152

Internals were :

UP volume led by 11.53 to 1 in NYSE & 12.91 to 1 in Nasdaq

Advancing stocks led by 9.98 to 1 in NYSE & 6.65 to 1 in Nasdaq

Net new 52 wk highs were leading by 436 in NYSE & 220 in Nasdaq

VIX tumbled 18.53% @ 14.68

Oil closed @ $93.12

Gold closed @ $1668.80

AH Futures Down

AH Asian Markets UP

AH Oil & Gold Down

AH News MLNX Down 13.87%

Stocks which were UP 3% or more included CRUS,JCP,TCK,
LEN,RVBD,HMC,LVS,BIDU,FFIV,AAPL,MA,GMCR,FB,
LRCX,MU,BRCM,JDSU,CIEN,C,BAC,GS,MLNX,QCOM,
NVDA,X,STLD,SINA,KOG,WYNN,AGU,IBN....

About market, TAPE was the best i have seen in a year. Internals were extremely strong. With this kind of momentum & closing @ absolute high of the day, it is all set to make a new 12 month high.Next number to cross in S&P 500 is 1474.51 which was September 2012 high.

BLOG does NOT give buy or sell.

Saleem

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