Indices were on Fed minutes watch, when it came out, there was some optimism for further delay in cutback of stimulus.
S&P 500 @ 1652.62, high 1657.92
RSI @ 60.04
CMF @ 0.010...first positive in a long time
Internals were :
UP volume led by .85 to 1 in NYSE & 1.54 to 1 in Nasdaq
Advancing stocks led by 1.14 to 1 in NYSE & 1.45 to 1 in Nasdaq
Net new 52 wk highs were leading by 143 in NYSE & 206 in Nasdaq
VIX Down .98% @ 14.21
Oil @ $106.52
Gold @ $1247.40
Stocks which closed green included EBAY AUY
WLT CLF JCP LULU TIF AMZN GOOG
EXPE DNKN PANW BIDU FFIV COH
GRPN RVBD CRUS FB LRCX
AMCC FNSR QCOM CSIQ
SPWR MGA MLNX
WYNN......
AH ER YUM UP .88%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, after close Ben Bernake in Q&A said " Highly Accommodative policy needed for foreseeable future"...this statement lit fire in futures & 10 yr Bond yield fell, US$ tumbled & Gold is UP $32.70. IBD still saying "market in correction"...they may not look good for Thursday TAPE.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
I don't know what IBD is thinking with the correction call still...
CLF got downgraded to sector underperformer today at CIBC.
Iron ore up again overnight as expected with this huge rally:
***
Spot 63.5% Fe iron ore prices up further to $127-128 per tonne cfr
July 11, 2013 - 11:08 GMT Location: Shanghai
KEYWORDS:63.5% Fe Indian fines , China Beijing International Mining Exchange , CBMX , Li Keqiang
China’s imported iron ore prices continued to ascend on Thursday July 11, boosted by the strengthening of the futures and stock markets.
Mainstream prices for 63.5% Fe content Indian fines stood at $127-128 per tonne cfr China during the day, up $2 per tonne from Wednesday. Prices are now at their highest in nearly two months. “The iron ore prices are still tracking the strong performances of the equity market and steel futures today,” a steel mill source in Beijing said. This is because Chinese Premier Li Keqiang eased concerns over a slowdown...
http://www.metalbulletin.com/Article/3229832/Iron-ore-and-coking-coal/Spot-635-Fe-iron-ore-prices-up-further-to-127-128-per-tonne-cfr.html
***
Stocktrader
Hi Stocktrader,
IBD proprietary indicators is totally
out to lunch.....
IF they change their outlook tonight after indices are making new all time high...then they miss 8.14% move from low...??? many pay for this miss?
Good news on Iron Ore.....CLF may move UP on fundamental today.....
Saleem
Post a Comment