Indices were strong and closed @ high of the day.
S&P 500 @ 2065.95, high 2066.41, low 2041.10
RSI @ 46.75
CMF @ 0.269
Internals were :
UP volume led by 2.64 to 1 in NYSE & 2.10 to 1 in Nasdaq
Advancing stocks led by 2.73 to 1 in NYSE & 2.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 60 in NYSE & 62 in Nasdaq
VIX Down 8.60% @ 15.42
Oil @ $47.05
Gold @ $1151.90
Stocks which were UP 1% or more included AKS GPRO LULU
TWTR FEYE LEN OTEX YELP YHOO GOOGL AAPL
FB JCP WUBA JKS AMZN EXPE CMG YUM V MA
FSLR CRUS SNDK BRCM JDSU FNSR C MS GS
NFLX AAL M GMCR SPLK SBUX MCD STLD
CCJ DATA TRIP.....
AH ER...ULTA UP 8.76%, LOCO UP 8.54%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, tonight IBD changing its market outlook to "uptrend under pressure". TAPE was strong and all indices are above 50 DMA which is extremely healthy from technical point of view. Internals are all positive which is a major change. In next two trading days we need a follow through confirmation of this rally.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Swapped ETN @ 66.26 for M @ 62.74.
I got out of M because I feared an oil rise but it looks like that was unfounded. I like M's position with favorable spending tailwinds of job growth and lower energy prices...and it's Spring finally! :)
Stocktrader
Hi Stocktrader,
Good luck with swap..M is a good company.
Saleem
Oil is down. I'm hoping for a disaster panic to devastate oil stocks.
All data has been pointing to oil falling, inventory builds and weak economies everywhere, except the Saudi claim that demand was picking up. The Saudis are what kept me from holding ERY earlier... And Brent had recovered strongly also.
EOG, DVN, COP are three I'm watching. And ERUS.
If US storage does manage to fill, I believe everything could crash. Oil would become very cheap to justify more expensive storage.
Hi Firebird,
Oil is heading down to new low...that is a given.....
Good luck with your thesis.
Saleem
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