Indices closed mixed after days of solid gains.
S&P 500 1744.66, high 1747.79
RSI @ 65.92
CMF @ 0.235
Internals were :
Down volume led by 1.38 to 1 in NYSE & .92 to 1 in Nasdaq
Declining stocks led by 1.05 to 1 in NYSE & 1.10 to 1 in Nasdaq
Net new 52 wk highs were leading by 321 in NYSE & 330 in Nasdaq
VIX UP .92% @ 13.16
Oil @ $99.22
Gold @ $1315.80
AH ER NFLX UP 11.27%, VMW UP 11.31%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, it is all about jobs report, consensus has changed upwards to 180,000 from 150,000, i feel it is set up to fail as actual number may be close to 150,000 area. How this market react to a miss is an easy guess, reaction may be contained by close. A little digestion of gains is in order which may pull this market down few more days.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
I just finished with the FCX conference call. There's nothing really special they said. FCX remains a case of very low valuation coupled with increasing confidence that metal prices have stabilized thereby bringing in many longer term investors. They continue to focus on rationally balancing expansion with cost-cutting and have great assets. Their copper sales are expected to increase ~25% by 2015.
Stocktrader
Hi Stocktrader,
Thanks for FCX recap...it is trading well for a while & is UP even in this messy day.....
Saleem
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