Indices closed UP.
S&P 500 @ 2017.46, high 2018.66, low 2010.55
RSI @ 60.06
CMF @ 0.187
Internals were :
Down volume led by 1.68 to 1 in NYSE & 1.19 to 1 in Nasdaq
Declining stocks led by .91 to 1 in NYSE & 1.06 to 1 in Nasdaq
Net new 52 wk highs were leading by 47 in NYSE & 45 in Nasdaq
VIX Down 5.33% @ 16.17
Oil @ $47.10
Gold @ $1164.50
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE ended UP by close but internals were weak. Nasdaq closed above 50 DMA to join other indices which is technically positive. CMF is @ highest level since May of 2015, means money has been flowing back in @ rapid pace. Looking @ market RSI and VIX, i will not be surprised IF we pull back slightly to remove mini overbought conditions.Look for buying opportunities in quality stocks on any pullback.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Saleem,
I'll be buying TWTR this morning because I think the bottom is in. Based on today's announcement, the earnings are still ok (which was in question following the job cut plans) and the new CEO seems to be focusing the company squarely on growth initiatives but also rational spending.
I have an order for 29.32--I hope it fills once the stock officially opens! :)
Stocktrader
Hi Saleem,
Just went for $29.42 and got it. I'm not going to squabble about $0.10.
Stocktrader
Hi Stocktrader,
Nice move with TWTR...already in the money$$$$$$
Saleem
Hi Saleem,
Sold SWKS @ 78.447
Sold CYBR @ 50.45
These just aren't working. There doesn't even look like good bottoms on the charts to hope for rebounds from here. I'll look for different opportunities.
Stocktrader
Hi Stocktrader,
Good move with SWKS & CYBR....
Many stocks are difficult to trade these days.....
That is why, when the show me the money, i take it & run......
Good luck with next idea.
Saleem
Hi Saleem,
Breadth again not so great today. It looks like a pullback may indeed be coming.
Stocktrader
Hi Stocktrader,
Pullbacks are healthy.
Saleem
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