TAPE was under selling pressure as worldwide markets were down sharply, DAX closed down 3.44%.
S&P 500 @ 1845.73, low 1834.44, high 1857.68
RSI @ 57.60
CMF @ 0.221
Internals were :
Down volume led by 3.17 to 1 in NYSE & 1.74 to 1 in Nasdaq
Declining stocks led by 1.96 to 1 in NYSE & 1.72 to 1 in Nasdaq
Net new 52 wk highs were leading by 58 in NYSE & 43 in Nasdaq
VIX UP 14.29% @ 16.00
Oil @ $104.92
Gold @ $1350.30
AH ER : SCTY Down 1.72%, MCP Down 2.29%
SSYS UP .48%, VIPS UP 21.87%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE showed relative strength against European markets. When market does not close near low of the day on the day of world panic then it is time to take notice. US market gave a clear sign that Ukraine is not that big of an issue which could derail this bull run. It is important to have a reasoned view of geo political issues. I am of the view that by close we will have a clear picture of TAPE strength.
BLOG does NOT give buy or sell.
Saleem
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