Indices were under intense selling pressure but closed above lows of the day.
S&P 500 @ 1920.21, low 1913.77, high 1936.34
RSI @ 35.71
CMF @ 0.052
Internals were :
Down volume led by 4.03 to 1 in NYSE & 1.89 to 1 in Nasdaq
Declining stocks led by 2.55 to 1 in NYSE & 1.33 to 1 in Nasdaq
Net new 52 wk lows were leading by 48 in NYSE & 45 in Nasdaq
VIX UP 11.57% @ 16.87
Oil @ $97.38
Gold @ $1285.30
AH ER... FEYE Down 1.87%, Z Down 2.17%
FSLR Down 4.9%, GRPN Down 16.82%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE was extremely weak but recovered somewhat by close. Tonight IBD is changing its market outlook to "market in correction". Internals were extremely weak & negative all over. There is too much uncertainty all over which covers Fed future move in upping interest rates & resolution of many international hot spot. Caution is highly recommended, it is a good environment for preserving capital.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
I may have jumped too soon buying a lot back yesterday, but if the Russell outperforms again today (like yesterday), I think we could be ready for a rebound.
Stocktrader
Hi Stocktrader,
We are in the process of finding support or it could be a slow grind lower which could be very painful.
Saleem
Hey Saleem,
Sold GTAT @ 14.685.
Based on their conference call, they still face executional risks despite the rosy outlook. I think this becomes a "wait-and-see" until we see real progress.
Stocktrader
Hi Stocktrader,
TAPE action on GTAT was weak today.
Saleem
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