Indices closed down.
S&P 500 @ 2079.06, low 2078.46, high 2098.12
RSI @ 47.46
CMF @ 0.201
Internals were :
Down volume led by 4.40 to 1 in NYSE & 2.27 to 1 in Nasdaq
Declining stocks led by 3.10 to 1 in NYSE & 2.95 to 1 in Nasdaq
Net new 52 wk highs were leading by 70 in NYSE & lows by 10 in Nasdaq
VIX UP 23.14% @ 20.97
Oil @ $48.88
Gold @ $1286.90
AH news...BIDU Down 5.37%
In my portfolio....Sold BIDU in AH @ $154.00
Added 100% VRX in AH @ $23.87
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was under selling pressure again due to Brexit and lower oil, indices closed @ low of the day. Internals were very weak. I expect Tuesday to be " turnaround Tuesday "....VIX has jumped to 3 month high, this may be a " contrary indicator "of better action in equities. Fed starts its meeting and Wednesday statement may bring relief and further support for equities. Hopefully, oil may find support and firm up on Tuesday also, another positive for equities.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
Sold HUN @ 15.42
There has been a lot of recent talk of overcapacity in the chemicals sector recently. It has made such a great run off the bottom that I think we are due for a rest.
Stocktrader
Hi Stocktrader,
Good luck with next pick.
Saleem
Hi Stocktrader,
Bought NTES @ $163.36
Saleem
Hi Saleem,
Bought HD @ 125.45
I sold this previously even though I thought it was the right story for our time, but promised to revisit it when it reached the 200 DMA...and here it is.
Stocktrader
Hi Saleem,
Good luck with the increased VRX last night and the new NTES today. Market is difficult...
Stocktrader
Hi Stocktrader,
Good luck with HD.
Market is more than tough,but it creates better entry point.
Saleem
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