Indices closed down on mixed economic data.
S&P 500 @ 2098.53, low 2087.62, high 2107.72
RSI @ 55.69
CMF @ 0.364
Internals were :
Down volume lead by 2.39 to 1 in NYSE & 1.20 to 1 in Nasdaq
Declining stocks led by 1.59 to 1 in NYSE & 1.43 to 1 in Nasdaq
Net new 52 wk highs were leading by 62 in NYSE & 28 in Nasdaq
VIX UP 2.67% @ 14.23
Oil @ $51.53
Gold @ $1200.90
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE continues its digestive phase. Internals further deteriorated @ close. Many leaders are correcting in this pullback which can be bought on further weakness. Security stocks are digesting its recent gains. YY & QIHU has been in freefall for a while and looks deeply oversold on RSI basis. Stay with your diversified portfolio as rotation is taking hold.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
I have this ominous feeling now. With the ECB event passed, and Fed to come, it looks like more global steps toward easing are not forthcoming. Where does that leave the market?
Stocktrader
Hey Saleem,
Sold NXPI @ 100.308 to take profits.
Stocktrader
Hi Stocktrader,
World economies are getting enough support to get the growth back on track...
Market is anticipating reasonable growth all over this year.
Saleem
Hi Stocktrader,
Excellent trade with NXPI.
Saleem
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