Indices closed down.
S&P 500 @ 1890.28, low 1886.41, high 1950.33
RSI @ 28.45
CMF @ -0.112
Internals were :
Down volume led by 9.42 to 1 in NYSE & 7.45 to 1 in Nasdaq
Declining stocks led by 7.64 to 1 in NYSE & 6.35 to 1 in Nasdaq
Net new 52 wk lows were leading by 757 in NYSE & 559 in Nasdaq
VIX UP 12.24% @ 25.22
Oil @ $30.48
Gold @ $1087.10
AH news ....GPRO Down 24.57%, AMBA Down 10.41%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE reversed and went down in a straight line and closed near low of the day, internals have been the worst i have seen in a while. TAPE is definitely oversold but it does not have firm buying support which is resulting in lower lows in a hurry.We have broken key support @ 1900, 1871 is next support area. Too much negativity is the only contrary indicator which may cut through negativity and give some upside.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteAdded to OMED @ 15.20
Stocktrader
Hi Saleem,
ReplyDeleteBought SPLK @ 48.25
Stocktrader
Hi Saleem,
ReplyDeleteBought BAC @ 14.75
Stocktrader
Hi Saleem,
ReplyDeleteBought URI @ 55.15
Stocktrader
Hi Stocktrader,
ReplyDeleteAdded 20% CY @ 8.22
Saleem
Hi Stocktrader,
ReplyDeleteGood luck with URI SPLK BAC and more OMED.
Saleem
Hi Saleem,
ReplyDeleteGood luck with the CY add. Market bounce was very nice but already looks like a downside test coming again. Thankfully the market sentiment is so bearish--might give us a chance for sustainable rally here especially with good JPM earnings among others.
Stocktrader
Hi Saleem,
ReplyDeleteUsed the last of my cash to buy WLH @ 11.69
Portfolio: RLYP GM LNKD BAC PLNT SPLK URI WLH OMED
Stocktrader
Hi Stocktrader,
ReplyDeleteGood you are all in like me.....
Good luck with WLH.
Saleem