Indices closed @ low of the day.
S&P 500 @ 2002.16, low 2001.49, high 2042.49
RSI @ 42.10
CMF @ -0.045
Internals were :
Down volume led by 9.91 to 1 in NYSE & 3.15 to 1 in Nasdaq
Declining stocks led by 2.78 to 1 in NYSE & 3.14 to 1 in Nasdaq
Net new 52 wk highs were leading by 228 in NYSE & 3 in Nasdaq
VIX UP 18.70% @ 20.44
Oil @ $44.45..new 6 year low.....
Gold @ $1285.90
AH ER ..FB Down 1.82%, QCOM Down 8.27%
LVS UP 3.18%, MLNX UP 10.65%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, tonight IBD is changing its market outlook to "market under pressure"..Fed stay the course approach did not match the sentiment of traders and dumping began, TAPE was under relentless selling until close. Fed may have to change their tune through their governors on speaking circuit. Fed should have paid more attention to rest of the world as USA is not an island. I think, TAPE should recover on Thursday as we are "deeply oversold again"....
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
I'm in a bit of confusion right now, so I wanted to get smaller.
Sold PANW @ 125.80.
My thinking is that these high growth, multiple stocks could get hurt if the idea of "easy money" from the Fed is fading.
Stocktrader
Hi Stocktrader,
Even market is confused and afraid of something.
When in doubt it is wise to play safe.
Saleem
Hey Saleem,
Picked the exact wrong thing to sell, haha. NOW is doing quite well after reporting last night--new all time high. I hope that bodes well for my favorite plays like SPLK, PANW, and others.
Stocktrader
Hi Stocktrader,
It is becoming a stock specific market.
Important to buy what is working.
Saleem
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