Indices ignored good ECB news & closed lower.
S&P 500 @ 19997.65, low 1992.54, high 2011.17
RSI @ 62.18
CMF @ 0.245
Internals were :
Down volume led by 1.56 to 1 in NYSE & 1.21 to 1 in Nasdaq
Declining stocks led by 2.00 to 1 in NYSE & 1.44 to 1 in Nasdaq
Net new 52 wk highs were leading by 122 in NYSE & 42 in Nasdaq
VIX UP 2.27% @ 12.64
Oil @ $94.45
Gold @ $1266.50
AH News... KORS Down 4.03%, FNSR Down 4.19%
AMBA UP 6.79%, BLOX UP 11.86%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE is under selling pressure for 3 days in a row, everyday we make new highs but closed lower on the day, this is a classic "topping formation". We had many bullish news but it was good for open only, now it is about jobs report news, will it repeat buy @ open and lower by close.Internals are mostly negative & getting worse. Monitor your stocks relative to market & other stocks.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteSold NOW @ 61.854.
I wanted to raise some cash because I feel like the market may pause, and this stock had a decent bounce today after two rough ones.
Stocktrader
Hey Saleem,
ReplyDeleteI also want to focus more on cyclical growth right now and more international exposure. I think the "safety" trade into secular growth and US-centric stocks might have to unwind some.
Stocktrader
Hi Stocktrader,
ReplyDeleteSorry I just checked my BLOG..
Good to evaluate your take on sectors..
Good luck with new ideas.
Saleem