Thursday, September 12, 2013

Indices closed down .17% to .34%......

Indices were under mild profit taking on politics & Syria uncertainty.

S&P 500 @ 1683.42, low 1681.96

RSI @ 59.09

CMF @ -0.025

Internals were :

Down volume led by 2.48 to 1 in NYSE & 2.11 to 1 in Nasdaq

Declining stocks led by 2.14 to 1 in NYSE & 1.76 to 1 in Nasdaq

Net new 52 wk highs were leading by 70 in NYSE & 113 in Nasdaq

VIX UP 3.40% @ 14.29

Oil @ $108.60

Gold @ $1330.60

AH Futures Mixed

AH Asian Markets Down

AH Oil & Gold Down

About market, after seven straight UP session in S&P 500, we had a 0.34% pullback. Pullbacks are healthy in a strong bull market, it offers a chance to buy stocks when they are down a bit, also gives a chance to switch stocks based on relative strength or weakness. Fed & Syria remains in focus & traders may feel uncertainty based on unknown. It is important to book gains & re-position on any weakness.

BLOG does NOT give buy or sell.

Saleem

2 comments:

stocktrader_1996 said...

Hey Saleem,

Rebought MU @ 15.71.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Good luck with MU..

Saleem