Indices closed mixed...
S&P 500 @ 1884.07, high 1899.48, low 1871.91
RSI @ 34.60
CMF @ -0.110
Internals were :
Down volume led by .81 to 1 in NYSE & 1.63 to 1 in Nasdaq
Declining stocks led by 1.28 to 1 in NYSE & 1.69 to 1 in Nasdaq
Net new 52 wk lows were leading by 474 in NYSE & 302 in Nasdaq
VIX Down 2.90% @ 26.83
Oil @ $45.23
Gold @ $1126.80
AH ER...CUDA Down 22.29%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE tested support again and came very close to previous low but turned UP and closed higher than yesterdays close, which is a very good thing, technically speaking. Nasdaq was down 6 days in a row. Still... there is no conviction in this TAPE, every minute it gyrates UP or Down. But it is a very good time to park in strong names and wait for TAPE to get its mojo back. Boring / painful TAPE can give huge reward IF conviction and patience takes hold.
BLOG does NOT give buy or sell.
Saleem
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