Indices closed slightly lower after indices making fresh highs.
S&P 500 @ 1626.67, high today 1635.01
RSI @ 65.54
CMF @ 0.283
Internals were :
Down volume led by 1.97 to 1 in NYSE & 1.10 to 1 in Nasdaq
Declining stocks led by 1.80 to 1 in NYSE & 1.57 to 1 in Nasdaq
Net new 52 wk highs were leading by 366 in NYSE & 152 in Nasdaq
VIX UP 3.71% @ 13.13
Oil @ $96.39
Gold @ $1468.60
Stocks which closed green included EBAY BBRY
KORS LULU AMZN PCLN TZA CF CMG
BIDU FFIV CRUS GMCR LRCX MU
SNDK FSLR SPWR ECA MLNX
WYNN AGU FCX....
AH ER :
PCLN Down 2.73%
GPS UP 7.19% MCP UP 8.77%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, we got a slight pullback today BUT we are all set to make new highs again. This is a tough market to get a handle. CNBC guru's are calling for cooling / pullback in this market BUT its not going to be that way, slight pullback every so often is all we are given. TAPE remains FIRM & sector rotation is in play.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hey Saleem,
Bought SWC @ 12.01. If this is the worst it can get with a crazy strengthening dollar in the last two days, I'll snap up some bargains here in metals.
Stocktrader
Hey Saleem,
Bought BAC @ 13.01 to capitalize on rising long term rates and the strengthening economy.
Stocktrader
Hi Stocktrader,
YES stocks opposite of strong US$ are holding up pretty good.
Gold Down $37..AUY down 28 cents....clear sign that bottom was reached few days ago in all metals & mining stocks.....
Good luck with BAC & SWC.....
Saleem
Hey Saleem,
Ideally some consumer discretionary stocks would be perfect right now with a strengthening economy and dollar, but I have no ideas ready for purchase.
I'll have to do some more research over the weekend.
Stocktrader
Hi Stocktrader,
Majority of stocks are participating in this bull run......
This is a very good market for traders & investors.
Good luck with your homework.
Saleem
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