Indices fought its way back to green close.
S&P 500 @ 1563.07
RSI @ 56.89
CMF @ 0.312
Internals were :
UP volume led by 3.56 to 1 in NYSE & 2.12 to 1 in Nasdaq
Advancing stocks led by 2.20 to 1 in NYSE & 1.53 to 1 in Nasdaq
Net new 52 wk highs were leading by 157 in NYSE & 41 in Nasdaq
VIX Down 5.24% @ 13.19
Oil @ $93.36
Gold @ $1572.50
Stocks which were UP 2% or more included BAC,JCP,RDN,
LEN,LULU,CMG,KORS,LVS,GMCR,JDSU,CIEN,
FNSR,FSLR,SPWR,MLNX,WYNN.....
AH News :
AA Down 1.43%
JCP Down 6.24%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Indices staged an impressive reversal & closing @ absolute high of the day in S&P 500. We are 13 points away from all time high in S&P 500. Watch this level closely, hopefully we establish new all time high....BUT after that real test of this market starts in terms of follow through. TAPE has been stuck near 1576.09 for a long time, IF we do not push through....then watch below.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hey Saleem,
I managed to be up over 0.6% just based on the nice performances of my only two major stocks: RDN and MRIN. I was not surprised to see an up Monday as you often get some paycheck inflows, but many of my "usual" stocks like PANW, BSFT, AXLL, SPLK, and FDX were all down. I'm not sure what the market may do next, but having all those stocks down is still a warning sign for me or at a minimum, still a good idea that I sold last week.
Stocktrader
Hi Stocktrader,
TAPE has become unpredictable for many stocks even when indices are UP...
Less exposure is better going forward.
Saleem
Hi Stocktrader,
Sold RDN & bought HMC....
Saleem
Hey Saleem,
Sold RDN @ 11.11--took profits after a nice run and it being up today on no specific news.
(Haha, didn't see your new post until I went to preview mine--I see we're on the same page again!)
Stocktrader
Hi Stocktrader,
I beat you by 2 cents per share, sold @ $11.13.
YES...our market read matches so does trading action.
Saleem
Hey Saleem,
Sold MRIN @ ~15.75. I'm sitting at zero exposure now except for the APWC long-term small holding.
Stocktrader
Hi Stocktrader,
MRIN volume has dwindled....
It is good to relax after hectic year.
Saleem
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