Indices closed UP on positive economic news.
S&P 500 @ 1786.54, high 1792.22
RSI @ 51.38
CMF @ -0.127
Internals were :
UP volume led by 2.80 to 1 in NYSE & 2.94 to 1 in Nasdaq
Advancing stocks led by 2.00 to 1 in NYSE & 2.17 to 1 in Nasdaq
Net new 52 wk highs were leading by 34 in NYSE & 73 in Nasdaq
VIX UP 1.71% @ 16.03
Oil @ $97.48
Gold @ $1244.40
Stocks which closed green included FB JKS AUY
BBRY TRIP SLW GG EXPE AMZN AAPL
GOOG TSL CSIQ FSLR EBAY YUM
LVS FFIV MA ARUN RVBD MCD
SNDK AMCC JDSU PANW Z
GMCR CSOD GS....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was quite resilient after four down days. Fed starts its meeting on Tuesday with a statement by 2 PM on Wednesday. Expectations are now shifting towards January taper resulting in positive close today. I am expecting TAPE to remain positive all week in anticipation of January taper. Monthly / weekly option expiry is another catalyst favoring bullish momentum.
BLOG does NOT give buy or sell.
Saleem
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