Indices closed @ high of the day, only Nasdaq made it in green.
S&P 500 @ 2099.68, low 2092.15, high 2100.23
RSI @ 62.11
CMF @ 0.302
Internals were :
UP volume led by .97 to 1 in NYSE & 1.08 to 1 in Nasdaq
Advancing stocks led by 1.21 to 1 in NYSE & 1.09 to 1 in Nasdaq
Net new 52 wk highs were leading by 120 in NYSE & 60 in Nasdaq
VIX Down 2.22% @ 15.45
Oil @ $52.88
Gold @ $1200.02
AH News ..SUNE Down 3.54%, SCTY Down 5.46%
ABX UP 2.66%, TTPH UP 12.33%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, Fed gave a clear signal that they are in no rush to tinker with low,low interest rates, Greece & ECB are working towards larger agreement on debt, all this pointing towards series of new highs. Today was a waiting game for Fed minutes and news flow on Greece, thus a flat close. Expect strong markets unless oil take huge tumble of around 4%, then we may go down on fear of low oil impact. I expect TAPE to work its way higher and Nasdaq to 5,000.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hey Saleem,
I am pretty shocked the market can shrug off negative developments versus expectations when it comes to Greece even if we all can look past it from the longer standpoint. Good to be invested and diversified I guess :)
Stocktrader
Hey Saleem,
Added to Z @ 120.
I just can't ignore that these guys just consolidated their closest competitor. In listening to the merger call yesterday, I was encouraged by both the synergy opportunities and the future growth avenues. This brings the position weighting up some, but still not full like others due to volatility.
Stocktrader
Hi Stocktrader,
Greece will go half way to Germany's expectations...that will be good enough for a debt deal.
Good luck with more Zzzzzzzz.
Saleem.
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