Indices closed down.
S&P 500 @ 2253.28, low 2248.44, high 2276.20
RSI @ 67.53
CMF @ 0.138
Internals were :
Down volume led by 5.41 to 1 in NYSE & 2.18 to 1 in Nasdaq
Declining stocks led by 4.12 to 1 in NYSE & 2.74 to 1 in Nasdaq
Net new 52 wk highs were leading by 26 in NYSE & 58 in Nasdaq
VIX UP 3.69% @ 13.19
Oil @ $51.04
Gold @ $1163.70
AH ER....PIR UP 21.91%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE made new intraday all time highs before succumbing to Fed statement of 3 more hikes in 2017. There is too much momentum in this TAPE to focus too much on potential hikes in 2017, US economy is growing slowly around 2.5%, so no real need to to do much in terms of slowing it down. We should be back to closing higher on Thursday. Balanced portfolio is the best way going forward, some technology, lots of infrastructure related stocks & financials.
BLOG does NOT give buy or sell.
Saleem
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