Indices are making lower lows on ongoing uncertainty of Fed move.
S&P 500 @ 1612.52, low 1610.92
RSI @ 44.20
CMF -0.016
Internals were :
Down volume led by 4.09 to 1 in NYSE & 3.32 to 1 in Nasdaq
Declining stocks led by 4.25 to 1 in NYSE & 2.35 to 1 in Nasdaq
Net new 52 wk lows were leading by 350 in NYSE & new highs were leading by 52 in Nasdaq
VIX UP 8.90% @ 18.59
Oil @ $95.88
Gold @ $1392.00 low today $1372.20
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, Nikkei is down sharply, last check down 800 points, it has lost 21.55% in last 3 weeks, Nikkei is in bear market in roughly 15 trading days. Yen has gained 8.54% in roughly 14 trading days..this will affect profitability of Japanese exporters. Asian TAPE does not bode well for Europe or North America when it opens. Only co-ordinated move by Central Banks to weaken Yen can prevent worldwide market slump.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
This market is very difficult to figure although the sentiment has shifted quickly:
http://www.schaeffersresearch.com/streetools/market_tools/investors_intelligence.aspx
The data gets polled on Tuesday midday from what I understand, so I imagine with the late-day Tuesday selloff and yesterday's horrible action, this sentiment data could be even worse!
Sold MSFT @ 34.69 and bought SODA @ 70.83. It looks like MSFT needs to digest its large gains in recent months and I wonder if this particular quarter for MSFT could be squishy. Bought SODA as the growth story coupled with the buyout potential makes it attractive even at these prices. I actually feel a bit lucky to have been able to buy back cheaper than where I sold it previously.
Stocktrader
Hi Stocktrader,
We are getting a weak "oversold bounce"..as yield on 10 yr is a touch lower today @ 2.187%...from high of 2.25%.....
It is the Fed......
Good luck with SODA..lot of good things are happening in SODA....PEPSI maybe.....
Sale
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