Indices were under selling pressure after open & closed near low of the day in heavier volume.
S&P 500 @ 1819.20, low 1815.52
RSI @ 50.13
CMF @ 0.201
Internals were :
Down volume led by 5.12 to 1 in NYSE & 3.45 to 1 in Nasdaq
Declining stocks led by 2.48 to 1 in NYSE & 2.52 to 1 in Nasdaq
Net new 52 wk highs were leading by 120 in NYSE & 142 in Nasdaq
VIX UP 9.39% @ 13.28
Oil @ $91.80
Gold @ $1251.10
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was under pressure as GS decided to downgrade US market to "underweight with a 10% drawdawn" all in next 90 days. Fed Lockhart joined GS in saying "continued taper is necessary". IBD also joined after close in changing market outlook to "uptrend under pressure". GS also saying that Gold is headed down to $1050 by end of the year. AEM which is a premier gold stock has closed tonight above 50 & 200 DMA, first gold stock to do that. I will not be surprised IF we close green on "turnaround Tuesday"
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
Bought YELP @ 76.87 while I was gone briefly this morning.
Stocktrader
Hi Stocktrader,
Chart of YELP looks interesting after yesterday's slump.
Good luck $$$$
Saleem
Hey Saleem,
I plan to buy some shippers back at close with my remaining cash.
Also, HTCH preannounced well ahead of expectations. Certainly that is reading through to WDC/STX.
Stocktrader
Hi Stocktrader,
Thanks for the news related for STX WDC..
Good luck with shippers.
Saleem
Hey Saleem,
Wow, it is so hard to keep up with some of these stock moves. Any kind of dip is met with voracious buying--we're already erasing a substantial part of yesterday's losses and we're only 1:30 into this day.
Stocktrader
Hi Stocktrader,
YES..it is a nice day for stocks...GS is eating crow as usual..their game only last a day.
Saleem
Hey Saleem,
Bought SB @ 9.25 avg. I was going to wait until close, but BALT started moving and SB really is a good price here anyways.
Stocktrader
Hi Stocktrader,
Good luck with SB....
Saleem
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