Indices closed down.
S&P 500 @ 2280.90, low 2268.04, high 2286..01
RSI @ 56.44
CMF @ 0.201
Internals were :
Down volume led by 3.53 to 1 in NYSE & 2.39 to 1 in Nasdaq
Declining stocks led by 2.36 to 1 in NYSE & 3.26 to 1 in Nasdaq
Net new 52 wk highs were leading by 20 in NYSE & 11 in Nasdaq
VIX UP 12.29% @ 11.88
Oil @ $52.63
Gold @ $1196.00
AH ER..SANM UP 10.87%, RMBS Down 5.44%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was under selling pressure on reaction to immigration executive orders, we erased half of the losses by close. CMF actually rose to the highest level in 6 weeks in all major indices, a sign of buying interest.Hopefully, Tuesday close will be positive. This TAPE is very strong and wants to go higher on upcoming tax, infrastructure and deregulation changes. Judicious buying should pay off nicely.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Sold TNA @ 98.77 to reduce exposure and taking a small profit
Stocktrader
Hi Stocktrader,
Good move with TNA sale....you can buy it back cheaper even today?
Saleem
Hi Saleem,
With uncertainty seeming to grow, I think I'm better off not trying to make a market call and instead just sticking to stock picking. If something because very compelling, I have more cash now also :)
Stocktrader
Hi Stocktrader,
Yes...stock picking has much higher comfort level.
Saleem
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