Indices recovered most of the losses by close.
S&P 500 @ 1977.80, low 1964.04, high 1981.28
RSI @ 46.34
CMF @ 0.068
Internals were :
Down volume led by 2.64 to 1 in NYSE & 1.13 to 1 in Nasdaq
Declining stocks led by 1.42 to 1 in NYSE & 1.25 to 1 in Nasdaq
Net new 52 wk lows were leading by 134 in NYSE & 83 in Nasdaq
VIX UP 7.61% @ 15.98
Oil @ $94.57
Gold @ $1218.80
AH Futures down
AH Asian markets Mixed
AH Oil & Gold Down
About market, TAPE faced another uncertainty from Hong Kong and reacted to it. S&P 500 manged to close above 50 DMA which is very encouraging. Nasdaq had the best recovery and many famous names closed green. I expect market to continue fighting negativity & actually close green for a "turnaround Tuesday".
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
One of the few stocks I'm still interested in is BWLD. I like how it is outperforming the $RUT recently, even in the face of end-of-quarter selling flows given the major stock declines this quarter.
Given the now decreasing input costs (chicken specifically), and if we think consumer spending will be helped by lower gasoline prices, I think BWLD's earnings power is underappreciated besides the conservatism in the guidance already.
Stocktrader
Hi Stocktrader,
Your thesis is sound.
Many stocks are ready to bounce given their strong business prospects including BWLD.
Saleem
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