Indices closed near high of the day.
S&P 500 @ 1842.02, high 1842.84
RSI @ 69.69
CMF @ 0.089
Internals were :
UP volume led by 1.96 to 1 in NYSE & 1.17 to 1 in Nasdaq
Advancing stocks led by 1.15 to 1 in NYSE & 1.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 303 in NYSE & 244 in Nasdaq
VIX Down 1.20% @ 12.33
Oil @ $99.55
Gold @ $1212.30
Portfolio JKS RALY SINA AUY
Stocks which were UP 2% or more included JKS
TWTR TSLA YNDX EGO JCP DRYS
SB BALT....
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE remains strong as per new highs list, we have 3 more days for month end & year end positioning. I am expecting TAPE to be strong especially for Monday & Tuesday. This is a strong market & is moving in a very orderly fashion. I would not second guess the strength or the direction of this TAPE based on seasonality.
BLOG does NOT give buy or sell.
PS.. missed afternoon BLOG posting as i was stuck in traffic.
Saleem
3 comments:
Hey Saleem,
In my opinion, this year-end runup is based in fundamentals even if there's some positive seasonality. It's hard to find a reason to sell, and fund flows are steadily coming now. Besides some minor profit taking here and there, the trend is definitely still higher, and less based on froth like some people think (although certain stocks have gone insane, TWTR and DDD are my examples).
Stocktrader
Hey Saleem,
Bought FB @ 57.166.
Stocktrader
Hi Stocktrader,
Market remains on track to higher highs.....
Good luck with FB......
Saleem
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