Indices closed near high of the day.
S&P 500 @ 2086.24, high 2088.97, low 2064.11
RSI @ 52.06
CMF @ -0.022
Internals were :
UP volume led by 5.52 to 1 in NYSE & 2.34 to 1 in Nasdaq
Advancing stocks led by 2.85 to 1 in NYSE & 2.25 to 1 in Nasdaq
Net new 52 wk highs were leading by 129 in NYSE & 59 in Nasdaq
VIX Down 3.72% @ 14.51
Oil @ $48.68
Gold @ $1184.80
Stocks which were UP 2% or more included AKS GPRO
LEN TSLA AAPL NXPI JCP BRCM FNSR X
STLD MLNX.....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE was strong on China stimulus hope & merger activities, US housing data was also strong. All indices are above 50 DMA which is a good sign of future TAPE action, internals of the market improved substantially. I am expecting a strong follow through tomorrow. Conviction & patience till end of April should pay off nicely. There are many skeptics of this rally which is a very reliable contrary indicator.
BLOG does NOT give buy or sell.
Saleem
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