TAPE was strong today & all indices closed near high of the day.
S&P 500 @ 1977.10, high 1979.85, low 1969.86
RSI @ 61.99
CMF @ 0.387
Internals were :
UP volume led by 1.90 to 1 in NYSE & 1.75 to 1 in Nasdaq
Advancing stocks led by 1.79 to 1 in NYSE & 1.76 to 1 in Nasdaq
Net new 52 wk highs were leading by 152 in NYSE & 22 in Nasdaq
VIX Down 2.15% @ 11.82
Oil @ $100.91
Gold @ $1306.70
Stocks which were UP 1% or more included FB MU SWIR
C LNKD KOG BIDU JKS YNDX TSL AMZN CMG
TSLA SINA SU YUM YY GOOGL SPLK CCJ
DATA MS GS AGU MLNX.....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE got a boost before open from GS after they raised S&P 500 target to 2050. Tomorrow Janet Yellen has testimony & market will pay close attention to Q&A. This Friday is monthly & weekly Option Expiry which results in a slanted market on MM positioning for Thursday, either sharply UP or Down. So far internals are off to a solid start. Monitor this TAPE closely & go with the flow, but i have my trigger on locking profit if RSI turns close to 70.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteWell...some small cap biotech is getting interesting. Thank you Yellen?
Stocktrader
Hi Stocktrader,
ReplyDeleteGood luck with Bio-Pick...
Saleem
Hey Saleem,
ReplyDeleteI'm not doing anything today, but I routinely feel like I need a small amount of biotech exposure. I'll keep being patient though because I've not done well on some trades in that space (although I think I played CLDX well last year).
Stocktrader