Indices closed mixed on low oil, weak housing data.
S&P 500 @ 2109.66, low 2103.00, high 2110.05
RSI @ 63.83
CMF @ 0.354....highest level since week one of December 14.
Internals were :
Down volume led by 1.79 to 1 in NYSE & 1.11 to 1 in Nasdaq
Declining stocks led by 1.01 to 1 in NYSE & 1.20 to 1 in Nasdaq
Net new 52 wk highs were leading by 141 in NYSE & 88 in Nasdaq
VIX UP 1.82% @ 14.56
Oil @ $49.45
Gold @ $1200.80
AH News ...AMCC Down 4.46%, AGU UP 2.83%
FSLR UP 9.14%, SPWR UP 12.59%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE behaved much better than expected based on lower oil & weak housing data. Fed chief testimony on hill may not sit well with traders as talk of higher interest rates may dominate Q & A. Janet Yellen has a real challenge on hand to balance reality of higher interest rates in June vs expectations of lower rates for a "considerable period of time"...market may not like clarity on this issue. Buying quality stocks on weakness should work out pretty good.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Bought back Z @ 119.15.
Stocktrader
Hey Saleem,
I had a buy order for BAC @ 16.26 that never filled after the stock had its official "open". That's a shame... I may try to chase--the worst might be over for banks.
Stocktrader
Hey Saleem,
Did buy BAC @ 16.31.
Stocktrader
Hi Stocktrader,
Good luck with Z & BAC....
Sometimes prices move fast.
Saleem
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