Indices closed @ lowest level in last 2 weeks.
S&P 500 @ 1935.10, low 1934.87, high 1962.36
RSI @ 36.72
CMF @ -0.003
Internals were :
Down volume led by 4.47 to 1 in NYSE & 4.52 to 1 in Nasdaq
Declining stocks led by 3.55 to 1 in NYSE & 4.15 to 1 in Nasdaq
Net new 52 wk lows were leading by 152 in NYSE & 155 in Nasdaq
VIX UP 11.25% @ 17.20
Oil @ $88.85
Gold @ $1212.40
AH ER YUM UP 1.31%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE is making lower closing in all indices today.S&P 500 @ 9 weeks low.IMF has trimmed its Global growth outlook to 3.3% & 3.8% for 2014 / 2015, this is drop from 3.4% & 4.00% from previous 2014 / 2015. US economy is improving as per IMF. IMF also warned on frothiness in stock market, which is not a role for them to comment, but since Fed has done it , so why not IMF. Fed minutes to come out @ 2 PM which will show same policy of low rates to continue, this may give lift to markets which @ best may be an oversold bounce.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
Bought LUV @ 32.66.
This domestically-focused airline is benefiting from lower oil and better consumer spending while not having the problems of the international airlines and capacity overbuilding.
Stocktrader
Hi Stocktrader,
Good luck with LUV.
Saleem
Hey Saleem,
I am tempted to buy a retailer like KSS or M based on SHLD's problems and also the lower gasoline tailwinds.
Stocktrader
Hi Stocktrader,
JCP just lowered their guidance?
Saleem
Hey Saleem,
Yes, that came after my comment. It actually makes me more cautious on a retailer, hence why I've held off making a purchase.
I have an eerie feeling about the market ahead of the Fed minutes--could get ugly.
Stocktrader
Hi Stocktrader,
TAPE is ugly already & may remain so after an oversold bounce ?
Saleem
Hey Saleem,
Took a little stab at JKS @ 25.00.
Stocktrader
Hi Stocktrader,
Good luck with JKS.
Saleem
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