Indices went on a roller coaster ride on no news.
S&P 500 @ 2023.03, low 2008.25, high 2056.93
RSI @ 44.81
CMF @ -0.072
Internals were :
Down volume led by 1.71 to 1 in NYSE & 1.60 to 1 in Nasdaq
Declining stocks led by 1.11 to 1 in NYSE & 1.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 82 in NYSE & by 3 in Nasdaq
VIX UP 4.90% @ 20.56
Oil @ $45.89
Gold @ $1234.40
Stocks which closed green included TSL
OTEX YY TSLA GOOGL AAPL GRPN SU
LULU RVBD LVS CSIQ AMZN DNKN CMG Z
FFIV MA V TWTR SPWR CRUS NFLX SPLK SBUX
CNQ TRLA WYNN TRIP MLNX......
AH News..GME UP 6.5%, TSLA Down 6.00%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Tonight IBD is changing its market outlook to "market under pressure". TAPE was extremely troubling today and does not bode well for near term action. When you cannot plan your day in markets, then it is time to reduce exposure or sit out completely. We do not need any news to jolt this market to make a 400 point round trip and ending in negative. Machines are controlling this TAPE again. We may be looking @ future TAPE now, in terms of negativity from oil decline, that is the only logical answer i have for today's slump. S&P 500 support lies @ 1992.44, then 1972.56 then 1926.03. Be careful with this TAPE.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Every time I want to get in to TASR again, it announces another huge group of orders...
I feel like there's too many expectations ahead of the quarter, and I think it's strange that they keep making the news announcements for every single deal--it's like a secondary is coming or something...
I guess I'm hoping for a post-earnings "sell the news".
Stocktrader
Hi Stocktrader,
There is "sell the market " phenomenon happening these days.
Individual stock stories may be ignored in the end due to market conditions. This may give you chance to enter your TASR theme.
Saleem
Hey Saleem,
Bought PFPT @ 49.49 avg.
Bought FB @ 76.358.
Stocktrader
Hi Stocktrader,
Good luck with PFPT and FB.
Saleem
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