Indices closed near high of the day and made another all time closing high in S&P 500 & Dow.
S&P 500 @ 2038.26, high 2038.70, low 2030.17
RSI @ 68.27
CMF @ 0.455
Internals were :
UP volume led by 1.15 to 1 in NYSE & 1.38 to 1 in Nasdaq
Advancing stocks led by 1.33 to 1 in NYSE & 1.55 to 1 in Nasdaq
Net new 52 wk highs were leading by 173 in NYSE & 85 in Nasdaq
VIX Down 3.43% @ 12.67
Oil @ $77.40
Gold @ $1159.80
Stocks which were UP 1% or more included NXPI
LNKD LEN BIDU JKS CSIQ AMZN YHOO
EXPE PCLN GOOG WB FEYE FSLR
ZNGA LSCC SWIR BBRY QIHU
OTEX YY YELP BABA CCJ
PANW GMCR CSOD Z
TRLA.....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE has continued on its record high close, there seems to be buying continuing as CMF is @ its highest point since early July 2014. There was lot of buying interest in Chinese stocks today and they were mostly higher @ close. China has approved inter-listed trading for Hong Kong & Shanghai exchanges, Yuan was priced higher as exports went up. TAPE is reaching close to 70 in RSI which needs to be watched for pullback.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Bought HUN @ 24.797.
This doesn't exactly qualify for my relative strength trade, but recent chart action has been better and earnings momentum is strong along with recent insider buying. I wanted a bit more cyclical exposure and I think the recent spike in natural gas is unsustainable, hence the chemicals pick.
Stocktrader
Hi Stocktrader,
Good luck with HUN..logic of buying is sound.
Saleem
Hey Saleem,
BTU is tempting on this normal pullback after a spike move.
Stocktrader
Hi Stocktrader,
I have not followed BTU..Good luck with your Strategy.
Saleem
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