Indices closed UP after zig zagging for most of the day. S&P 500 and Dow made a new all time high today.
S&P 500 @ 2039.33, high 2046.18, low 2030.44
RSI @ 68.14
CMF @ 0.510
Internals were :
Down volume led by 2.06 to 1 in NYSE & 1.19 to 1 in Nasdaq
Declining stocks led by 1.83 to 1 in NYSE & 1.94 to 1 in Nasdaq
Net new 52 wk highs were leading by 114 in NYSE & 80 in Nasdaq
VIX UP 5.91% @ 13.79
Oil @ $74.21
Gold @ $1161.50
AH ER ...SINA Down 3.23%, WB UP 3.72%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was under mild selling as reflected in internals, this is a healthy sign as it takes out overbought conditions. Money flow remains near @ higher levels which is a good sign for equity allocation. Many stocks are in overdrive mode like SWIR , BABA, AAPL to name a few while solar sector is under pressure and many stocks are hitting 52 wk lows. Stay exposed to this TAPE as we are in a consolidating mode.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hey Saleem,
The more I look at HUN, the more I like it. The setup up technically and fundamentally look good. I am trying to figure out if I should increase exposure. It is one of the smaller positions right now due to lack of familiarity with the company.
Stocktrader
Hey Saleem,
Trimmed some FDX @ 172.063 and bought some more HUN @ 25.52.
Despite still liking FDX a lot here, I figured I'd swap among the "cheap oil" plays so as not to get even more overweight there.
Stocktrader
Hi Stocktrader,
Just checked HUN, chart is healthy, above 50 DMA, CMF is positive and target around $40..
Good move with Overweight.
Saleem
Hi Stocktrader,
Bought BBRY @ $11.52
Saleem
Hey Saleem,
Good luck with BBRY--it has defied many odds recently with the new CEO taking great positive steps.
Stocktrader
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