Indices closed lower on weak oil prices.
S&P 500 @ 2028.26, low 2022.58, high 2049.30
RSI @ 45.92
CMF @ -0.107
Internals were :
Down volume led by 2.17 to 1 in NYSE & 1.65 to 1 in Nasdaq
Declining stocks led by 1.65 to 1 in NYSE & 1.63 to 1 in Nasdaq
Net new 52 wk highs were leading by 36 in NYSE & lows by 14 in Nasdaq
VIX UP 11.68% @ 19.60
Oil @ $46.07
Gold @ $1232.80
AH ER AA UP 1.36%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE is following oil when its sharply lower, all indices are below 50 DMA again where it has stayed in 4 out of 5 days for S&P 500, not a good technical pattern. 2015 is not starting out on good footing, we may slump lower and test support from few days ago. Weakness should be used to evaluate your own stocks performance, some may be near support or oversold, no hasty action needed then.
BLOG does NOT give buy or sell
There will be a closing BLOG only on Tuesday, i am busy with some chores during the day.
Saleem
2 comments:
Hey Saleem,
With futures nicely up and oil down again, maybe we've finally broken that link! :)
Stocktrader
Hi Stocktrader,
Only when oil is down 4 percent then markets reacts sharply negative.
Today 50. Cents down does not cut it.
Saleem
Post a Comment