Indices closed red in a zig zag session.
S&P 500 @ 2109.60, low 2099.14, high 2117.59
RSI @ 49.68
CMF @ 0.004
Internals were :
UP volume led by 1.56 to 1 in NYSE & .90 to 1 in Nasdaq
Advancing stocks led by 1.19 to 1 in NYSE & 1.34 to 1 in Nasdaq
Net new 52 wk highs were leading by 15 in NYSE & 44 in Nasdaq
VIX UP 1.93% @ 14.24
Oil @ $61.26
Gold @ $1194.40
Stocks which were UP 1% or more included AKS BBRY VDSI
QIHU GG YELP PCLN KORS LVS LNKD JKS SU FSLR
SPWR YNDX HIMX AMCC JCP M X STLD ABX
SLW AEM CCJ CSOD CNQ Z......
AH ER ...AMBA UP .86%, SNCR UP 15.68%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was under selling pressure again , Dow & S&P 500 both went below 50 DMA, only Dow closed below. Internal strength of this market is very shaky and on the verge of moving lower. We need a flush out of weakness, this way we may start building a stronger base, there is no base currently. We are in an extremely narrow trading range which is not healthy. Buying on weakness may work.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Sold SPLK @ 67.243.
I'm trying to pare back generic exposure and go with stocks with upcoming catalysts. SPLK is currently in "sleep" mode I think for a while.
Stocktrader
Hi Saleem,
Sold GPRO @ 59.874.
I feel like the fundamentals catalysts have passed for now (but short squeeze potential still exists), and so am moving to the sidelines for now.
Stocktrader
Hi Saleem,
Bought NXPI @ 110.771.
Contrary to what I initially thought, most analysts believed they got a good price for their sale of assets in preparation for their merger with FSL. Also, there is expected to be much talk next week at AAPL's conference about Apple Pay and NXPI is often seen as the "play" on that technology. Given the earnings power strength of the post-merger company, I feel fortunate to be back involved at a good price.
Stocktrader
Hi Stocktrader.
Good move with SPLK,GPRO & NXPI....
It is all about ones strategy....
Saleem
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