Indices closed down on weak data & comment form Fed.
S&P 500 @ 2080.15, low 2067.93, high 2098.42
RSI @ 45.12
CMF @ 0.067
Internals were :
Down volume led by 2.00 to 1 in NYSE & 1.41 to 1 in Nasdaq
Declining stocks led by 2.07 to 1 in NYSE & 1.06 to 1 in Nasdaq
Net new 52 wk lows were leading by 54 in NYSE & 50 in Nasdaq
VIX UP 5.87% @ 15.15
Oil @ $60.93
Gold @ $1190.30
AH ER ...CSOD UP 6%, GMCR Down 10.90%
WFM Down 11.36%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, tonight IBD is changing its market outlook to "market in correction". So far Bill Gross, El-Erian,IBD & Janet Yellen all calling for market to pullback, that is generally a good time to increase exposure. Internals @ close are not that bad and TAPE recovered 50% of losses by close which is a good sign. Ignore the noise and stay with conviction.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Well, I completely messed up the oil move, selling AAL and buying URI & EMN yesterday. I was also looking at M near close yesterday but decided to wait--oops on that too.
Time to find the new ideas--lots of cash still...
Stocktrader
Hi Stocktrader,
Good luck with new ideas.
Saleem
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