Indices had bad news from China & good news for US but by close indices had a big yawn.
S&P 500 @ 1642.81, low 1639.26...high 1648.69
RSI @ 54.23
CMF @ 0.121
Internals were :
Down volume led by 1.12 to 1 in NYSE & .78 to 1 in Nasdaq
Declining stocks led by 1.26 to 1 in NYSE & .56 to 1 in Nasdaq
Net new 52 wk highs were leading by 22 in NYSE & 112 in Nasdaq
VIX UP 1.98% @ 15.44
Oil @ $95.77
Gold @ $1386.00
AH News :
TXN Down 1.69%
KGC Down 2.69%
LULU Down 12.80%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, I am sure many traders were surprised that there was no real follow thru from Friday as Monday new fund flows into market. Also US Debt rating upgrade was ignored as non-event. When indices do not react to a major news, it is time for caution. It is important to see how we close on so-called turnaround & super-bullish Tuesday.....that will be a tell tale of this TAPE.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Sold DXJ @ 44.97. I wish I would have been able to sell yesterday but was on restrictions still.
I wanted to get back to stock picking instead of Japanese markets and currency, especially as people are questioning the ability of the BOJ to push any further.
Beyond that, I was worried that the volatile currencies were affecting some Japanese companies' profitability, so this is probably just a good exit after a quick 3.7% run.
Stocktrader
Hi Stocktrader,
Good move..3.7% is pretty good in 48 hrs......
Good luck with new strategy.
Saleem
Hey Saleem,
It was only 48 hours to sell because I raised the funds for the purchase on the day prior (if you were wondering).
Stocktrader
Hi Stocktrader,
I note most of your buy & sell & it gives me a good idea that you are "in compliance".....
Saleem
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