Indices closed UP reversing an earlier loss @ open.
S&P 500 @ 2080.62, high 2086.99, low 2056.52
RSI @ 51.25
CMF @ 0.006
Internals were :
UP volume led by 2.88 to 1 in NYSE & 2.09 to 1 in Nasdaq
Advancing stocks led by 2.68 to 1 in NYSE & 1.14 to 1 in Nasdaq
Net new 52 wk highs were leading by 119 in NYSE & 61 in Nasdaq
VIX UP .48% @ 14.74
Oil @ $52.14
Gold @ $1218.60
Stocks which were UP 2% or more included BBRY GPRO SWIR VDSI GG TSLA PCLN MU YNDX HIMX SNDK BRCM
AMCC ABX SLW AEM CNQ.....
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was impressive, that it avoided a sharp selling on bad jobs data, Indices closed near high of the day with internals of the market in green. Difficulty with these reversal is that we lose all or most of it very next day, that IS the pattern. All indices are above 50 DMA, the question remains, IF its going to hold or go lower again. IF we go down on Tuesday @ open, we have to see IF we break the tradition and close higher. No matter what, buying on weakness could be profitable.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hey Saleem,
Bought AAPL @ 127.86.
I think low expectations for the watch combined with good expectations for the quarter could make this a good two weeks ahead of the earnings report. The chart looks good after bouncing right off the 50 DMA.
Stocktrader
Hey Saleem,
Ugh, I should have stuck with the GM plan. I probably could have gotten a better AAPL price by waiting until closer to watch launch.
Stocktrader
Hi Stocktrader,
Dont feel bad, we all miss better price due to pricing vagaries of MM.....
I bought RAD @ open @ $8.88 sounds like a very lucky number BUT it is trading lower since......
Saleem
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