Indices faced selling from open and closed near low of the day.
S&P 500 @ 2026.14, low 2024.26, high 2058.86
RSI @ 43.56
CMF @ 0.202
Internals were :
Down volume led by 16.07 to 1 in NYSE & 6.45 to 1 in Nasdaq
Declining stocks led by 4.59 to 1 in NYSE & 4.25 to 1 in Nasdaq
Net new 52 wk low were leading by 153 in NYSE & 24 in Nasdaq
VIX UP 24.45% @ 18.53, high today 18.92
Oil @ $60.94
Gold @ $1229.40
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
LULU reports before open, expectations are :
Q3 Sales $424.68 Million, EPS 38 cents
Guidance Q4 Sales $593.80 Million, EPS 72 cents
January 2015 Sales $1.79 Billion, EPS $1.77
January 2016 Sales $2.04 Billion, EPS $2.03
Report should be a beat for Q3 and guidance for Q4 slightly higher, margin may give optimism going forward.
About market, TAPE cratered to oil price slump and its worldwide negative ramification, GDP of most countries will be impacted as oil taxation brings revenues. This is too sudden and will have negative impact even on boomtown housing. Internals were clobbered as capitulation took hold. I expect TAPE to stabilize here and work its way higher.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
Sold DATA @ 84.521 to take profits.
Stocktrader
Hey Saleem,
Sold HUN @ 24.104.
It is breaking down based on comments at the conference today, and I don't want this to turn into a disaster so close to year's end.
Stocktrader
Hi Stocktrader,
Wall Street can become a minefield sometimes, good to get out earlier than later.
Saleem
Hey Saleem,
I don't find many stock setups that compelling other than some of the oils. I wonder if the market needs more pause still...
Stocktrader
Hi Stocktrader,
Factor CNQ in your analysis of oil stocks. TAPE is healthy.
Saleem
Hey Saleem,
Sold AAPL, GM, RUTH.
Will detail more when I return in about an hour.
Stocktrader
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