Indices closed UP.
S&P 500 @ 2052.51, high 2055.20, low 2021.88
RSI @ 63.60
CMF @ 0.283
Internals were :
UP volume led by 2.68 to 1 in NYSE & 2.65 to 1 in Nasdaq
Advancing stocks led by 2.92 to 1 in NYSE & 1.59 to 1 in Nasdaq
Net new 52 wk highs were leading by 58 in NYSE & lows by 3 in Nasdaq
VIX Down 13.47% @ 14.45
Oil @ $45.38
Gold @ $1166.10
Stocks which were UP 2% or more included BIDU CNQ FB VDSI
LNKD SWIR BABA FEYE NXPI JKS SINA SU EBAY FFIV
LSCC CIEN AAL SPLK MCD X STLD SLW AEM MGA
MS GS AGU MLNX.....
AH ER....MSFT UP 7.95%, AMZN UP 9.72%
GOOG UP 10.62%, FTNT Down 15.01%
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE was super strong today and closed near high of the day, all indices are ready to take out 200 DMA, this will be very significant technically that all indices are above 50 & 200 DMA resistance. AH strong earnings from tech giants will propel this market higher on Friday, Friday being the weekly option expiry, there will be some outsized UP moves. Try to book profit as everyone gets super euphoric. Funds can be deployed in some beaten down names who are basing for few days, that is my strategy.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Sold AMZN @ 618.526 to take profits.
I actually think AMZN is really the "wrong kind" of stock in this reflationary environment. It has benefited from a lack of belief/understanding still from the investment community which limited the selling during the bad times recently. I will step to the sidelines for a better entry or a different stock pick.
Stocktrader
Hi Stocktrader,
Good move with AMZN booking $$$$$$.
Saleem
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