Indices closed near high of the day.
S&P 500 @ 1941.28, high 1942.45, low 1909.38
RSI @ 51.20
CMF @ -0.003
Internals were :
UP volume led by 5.21 to 1 in NYSE & 7.60 to 1 in Nasdaq
Advancing stocks led by 4.82 to 1 in NYSE & 3.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 53 in NYSE & 16 in Nasdaq
VIX Down 13.41% @ 16.08
Oil @ $82.49
Gold @ $1251.70
Stocks which were UP 2% or more included AKS MU NXPI
SWIR TSL YY YELP EXPE YHOO LNKD BIDU TSLA
PCLN KORS AAPL OWW BABA FB LVS KOG JKS
CSIQ AMZN SU EBAY FFIV MA V FSLR SPWR
YNDX ZNGA SNDK AMCC BRCM CIEN
JDSU PANW SPLK STLD X CCJ DATA
CSOD MGA MS WLT TRIP MLNX....
AH ER / News YHOO UP 3.73%, VMW Down 1.92%
CREE Down 11.01%, HIMX Down 13.09%
AH Futures Down
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, S&P 500 is marching towards 50 DMA which is @ 1966.81, IF it closes above that then we are off to the races. Tonight, IBD is changing its market outlook to "market in confirmed uptrend". Japanese economic activity picked up beating estimates on exports UP 6.9% @ imports UP 6.2% for September. Internals of this market has turned positive in 99% of the area, CMF missed by a hair. We have seen money flow in equities after 9.8% drubbing, which is good news for all lagging portfolios.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
The market is still unhealthy if it is moving this much every day with all stocks moving in one direction. We need to get back to those rotating up sector days.
I saw an interesting fact today: the $VIX has never dropped 10% three days in a row like it just did. Granted we got too oversold based on temporary headlines, but the way investors charged back in so fast might mean long-term complacency is still too high?
The biggest takeaway I see this earnings season is that companies continue to execute well and there is not a huge dropoff in demand as some might have expected. What concerns me more, and we'll have to wait until next quarter to see the initial guidance, is that the large expected gains for 2015 earnings might not be achievable unless we see better ramp in world economies--it is too sluggish right now to see anything more than modest EPS gains next year, which would be disappointing given some of the 2015 estimates.
Stocktrader
Hi Stocktrader,
Stock Market is not a logical place ever, it is sentiment driven and it is important to discover which way the flow is and follow the trend.
Those who fight the trend are left behind.
Saleem
Hey Saleem,
Sold NOW @ 60.00 ahead of earnings tonight.
Stocktrader
Hi Stocktrader,
Good luck with Your Strategy.
Saleem
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