Indices made & closed @ multi year high.
S&P 500 @ 1480.94
RSI @ 67.40
CMF @ 0.286
Internals were :
UP volume led by 2.12 to 1 in NYSE & 2.99 to 1 in Nasdaq
Advancing stocks led by 3.05 to 1 in NYSE & 2.06 to 1 in Nasdaq
Net new 52 wk highs were leading by 359 in NYSE & 142 in Nasdaq
VIX closed UP @ 13.57
Oil closed @ $95.49
Gold closed @ $1690.80
Stocks that were UP 1% or more included TCK,RIMM,CMG,HMC,
LULU,LEN,FFIV,CLF,
LNKD,GMCR,LRCX,
MU,CIEN,FNSR,SNDK,
NVDA,STLD,CCJ,QIHU,
MGA,MS,KOG,AGU.....
AH ER INTC Down 5.24%
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold Down
About market, Indices made new highs which bodes well for future. Near term we may hit severe overbought condition. It is important to be aggressive in booking profit. Chinese GDP came in @ 7.9%, better than consensus of 7.8%. Internals were OK, not as strong as i had expected.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
I used the spare cash to buy CLF mostly to get a good beta mover and because of improved data in China. Earnings estimates are likely to be revised higher with the iron ore rally, and the chart looks ready to move again after a rest.
This isn't a long term play, but one I'll use for now.
Stocktrader
Hi Stocktrader,
CLF has found support around $36 area & is trying to move UP......
Good luck with CLF.
Saleem
Post a Comment