TAPE staged another reversal & closed near low of the gay.
S&P 500 @ 1802.48, low 1800.58, high 1808.10
RSI @ 65.28
CMF @ 0.232
Internals were :
Down volume led by 1.32 to 1 in NYSE & 1.25 to 1 in Nasdaq
Declining stocks led by 1.25 to 1 in NYSE & .90 to 1 in Nasdaq
Net new 52 wk highs were leading by 176 in NYSE & 224 in Nasdaq
VIX UP 4.32% @ 12.79
Oil @ $94.09
Gold @ $1241.20
Stocks which closed green included AUY
AMZN NFLX MS PCLN AAPL MA
GOOG LULU DNKN COH YNDX
LRCX CIEN JDSU FNSR PANW
C M MCD X EGO AEM CCJ
GS AGU JCP WYNN.....
AH ER :
NUAN Down 6.5%, WDAY UP 8.39%, PANW UP 9%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, Iranian agreement euphoria only lasted till open after that it was downhill. Many stocks got beaten up especially Chinese & Social media stocks, some are near recent trading lows. As usual these weakness are buying opportunity. I expect recovery in beaten down stocks until Wednesday close. Week of Thanksgiving is bullish, i find no reason to doubt that despite today's TAPE action.
BLOG does NOT give buy or sell.
Saleem
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