Indices closed down.
S&P 500 @ 2041.91, low 2033.80, high 2063.01
RSI @ 54.91
CMF @ 0.316
Internals were :
Down volume led by 4.35 to 1 in NYSE & 3.82 to 1 in Nasdaq
Declining stocks led by 3.47 to 1 in NYSE & 2.74 to 1 in Nasdaq
Net new 52 wk highs were leading by 63 in NYSE & lows by 4 in Nasdaq
VIX UP 14.69% @ 16.16
Oil @ $37.26
Gold @ $1237.50
AH ER...GPS Down 8.74%, RT Down 18.58%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was under selling pressure from Asia to Europe and on to North America, Oil was lower but recovered, equities followed. Tonight IBD has changed its market outlook to "uptrend under pressure". There is nervousness about quality of earnings going into next week, it may not be as expected. Taking profit has to be the mantra going forward. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hi Saleem,
This market really does feel like it wants to go higher still. Every time we get a small dip, due to oil or yen or whatever, it is shrugged off by the next day. The S&P chart is still signaling a bit of a topping pattern, but I think too many traders are still expecting a bigger pullback, which means cash is ready to buy.
Stocktrader
P.S. I finally logged out my wife's account, it had been going all week as I never remembered until after I had clicked publish! :)
Hi Stocktrader,
Staying in this market is profitable.
Saleem
Hi Saleem,
Bought HUN @ 13.14
It looks like the chart and fundamentals are lining up for a breakout. I'm not sure what the put activity was all about, but even yesterday the company traded ok. I think maybe it was protecting a large position rather than a bearish bet.
Stocktrader
Hi Stocktrader,
Good luck with HUN.
Saleem
Hi Stocktrader,
Sold ABX @ $15.25
Saleem
Hi Stocktrader,
Added 100% FEYE @ $ 17.51
Saleem
Hi Stocktrader,
Bought QRVO @ $48.89
Saleem
Hi Saleem,
Nice run with ABX!
Good luck with the FEYE add and new QRVO.
Stocktrader
Hi Saleem,
What do you think of YHOO here with a confirmed bidding process in progress? It seems like downside is low with upside potential of 10%+.
Stocktrader
Hi Stocktrader,
You can play that odds.... BUT google was rumoured to be a "take under"
Saleem
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