Indices rebounded nicely by closing green.
S&P 500 @ 1511.29, high today was 1514.96.
RSI @ 65.25
CMF @ 0.380
Internals were :
UP volume led by 3.42 to 1 in NYSE & 6.63 to 1 in Nasdaq
Advancing stocks led by 2.68 to 1 in NYSE & 2.71 to 1 in Nasdaq
Net new 52 wk highs were leading by 233 in NYSE & 116 in Nasdaq
VIX Down 6.48% @ 13.72
Oil closed @ $96.64
Gold closed @ $1673.50
Stocks which were UP 1% or more included BAC,BBRY,YHOO,
TCK,FB,AMZN,AAPL,EXPE,PCLN,M,LEN,JCP,MA,V,MU,
GMCR,ZNGA,LRCX,JDSU,FNSR,CIEN,C,QCOM,NVDA,
FSLR,X,QIHU,ECA,MS,KOG,GS,FCX.....
AH ER :
DIS UP 2.74%
PNRA UP 3.70%
EXPE UP 4.96%
ZNGA UP 6.57%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE resiliency should have been noted by every trader, not only indices came back strong but also made a " new 2013 high in S&P 500"...Feb 1 high of 1514.41 was taken out intraday. This IS a strong bull market, 2013 should see many highs taken out repeatedly.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
The three consecutive ~100+ point moves (up, down, up) bothers me a little in that it signifies instability. I can shrug this off for now, but I'll be watching to make sure the $VIX behaves on the days it should--any strange divergences would raise red flags for me.
Other than that, it was a nice day today after people got spooked so much yesterday. A one day big-down event is often characteristic of bull markets, and then you just resume the uptrend all over again :).
Stocktrader
Hi Stocktrader,
It is not difficult to see what is going on in this TAPE......a very strong bull market......
I have great confidence in this "run for $$$$"
Saleem
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