Indices closed UP.
S&P 500 @ 2094.34, high 2094.66, low 2073.65
RSI @ 66.52
CMF @ 0.149
Internals were :
UP volume led by 2.95 to 1 in NYSE & 1.69 to 1 in Nasdaq
Advancing stocks led by 2.71 to 1 in NYSE & 1.98 to 1 in Nasdaq
Net new 52 wk highs were leading by 146 in NYSE & 41 in Nasdaq
VIX Down 1.98% @ 13.35
Oil @ $39.78
Gold @ $1235.00
Stocks which were UP 1% or more included ABX CNQ JKS MSFT
LULU CTRP GOOG SPWR PCLN AMZN V COH LNKD SU
CSIQ EXPE FFIV MA SSYS YELP FSLR MU UA DATA
CSOD MGA VRX TRIP......
AH Action...IBM Down 5.07%, NFLX Down 7.84%
MGA Down 13.21%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE showed its strong buying momentum after Doha failure and oil slump @ open, within minutes of open buyers flocked in and bought everything on sale, by close we were @ the highest point of the day. Indices are sitting @ the highest level of 2016 and within striking distance of making a new all time high. All this daily record close is being ignored by a technician, Carter Worth is always looking towards 2008, which was 8 years ago, one hell of a technical analysis.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Bought GM @ 31.73
I always thought these guys would report good earnings even in the face of stalling US sales due to higher margins and the weaker dollar, but I got caught up in the whole "peak auto" sentiment and sold early last week. Now we have a situation where auto production in Japan is severely diminished due to earthquake problems, and I think this might be enough tailwind to drive price gains even beyond the great execution company that GM has become.
Stocktrader
Hi Stocktrader,
Good luck with GM, reasoning is sound.
Saleem
Hi Saleem,
Bought FDX @ 167.30
After a very nice quarter, I think this stock is ready to break higher.
Stocktrader
Hi Stocktrader,
Good luck with FDX.
Saleem
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