Indices closed lower but above lows of the day.
S&P 500 @ 1872.83, low 1868.14, high 1884.88
RSI @ 49.07
CMF @ 0.144
Internals were :
Down volume led by 4.93 to 1 in NYSE & 3.84 to 1 in Nasdaq
Declining stocks led by 2.41 to 1 in NYSE & 3.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 36 in NYSE & lows were leading by 41 in Nasdaq
VIX UP 4.35% @ 12.96, high 13.30
Oil @ $102.33
Gold @ $1294.60
AH ER : INTU Down 3.88%, CRM UP .93%, ADI UP 1%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE has not gone anywhere since Dec 13 in RUT & Nasdaq, six months is a long time to know what kind of market we got. We must deal with the market we have not what majority were used to or wishing for. It is a tight range market which is a "new norm"....We are transitioning from a fed induced liquidity driven market to a more "growth oriented" environment in US. I do not believe that consumer is MIA.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
This is going to be a really important day. With the market up this much this early, it will be extremely telling to see how people react. Do they take their money and run? or do we keep melting higher? I think that choice will set the tone for the coming weeks.
Stocktrader
Hi Stocktrader,
This is a 2 day UP AND 2 day Down market...
SPY AND DOW makes new highs while RUT and Nasdaq stay rangebound.
Saleem
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