Thursday, September 25, 2014

Indices closed down 1.54% to 1.94%.....

Indices were down sharply.

 S&P 500 @ 1965.99, high 1997.32

 RSI @ 41.26

 CMF @ 0.065

 Internals were :

 Down volume led by 10.41 to 1 in NYSE & 8.99 to 1 in Nasdaq

 Declining stocks led by 4.83 to 1 in NYSE & 4.27 to 1 in Nasdaq

 Net new 52 wk lows were leading by 174 in NYSE & 131 in Nasdaq

 VIX UP 17.86% @ 15.64

 Oil @ $92.53

 Gold @ $1221.90

 AH ER MU UP 3.82% , NKE UP 7.34%

 AH Futures UP

 AH Asian Markets Down

 AH Oil & Gold UP

 About market, TAPE was under severe selling pressure until close , S&P 500 closed @ the lowest point. We have broken key support like 50 DMA in Nasdaq & S&P 500, Dow is barely above 50 DMA, which reflects deeply oversold condition. After hour earnings were better than expected from MU & NKE which should give us a lift. This remains a very difficult TAPE and we may have another 2 week of uncertainty.

 BLOG does NOT give buy or sell.

 Saleem
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4 comments:

  1. stocktrader_1996September 26, 2014 at 6:37 AM

    Hey Saleem,

    Sold everything this morning. Time for a fresh look...

    Stocktrader

    ReplyDelete
  2. Stocks100September 26, 2014 at 8:02 AM

    Hi Stocktrader,

    That was a "huge surprise "

    Good luck with your Strategy.

    Saleem

    ReplyDelete
  3. Western FirebirdSeptember 26, 2014 at 8:22 AM

    Refineries might be worth buying, with the risk that the US exports crude oil and kills refineries. They're up a little today though.

    All I seem to do right lately is day trade.

    ReplyDelete
  4. Stocks100September 26, 2014 at 8:33 AM

    Hi Firebird,

    Whatever works is good news.

    Saleem

    ReplyDelete