Indices closed down.
S&P 500 @ 2430.01, low 2430.01, high 2465.02
RSI @ 38.52
CMF @ 0.058
Internals were :
Down volume led by 6.88 to 1 in NYSE & 3.00 to 1 in Nasdaq
Declining stocks led by 4.55 to 1 in NYSE & 3.89 to 1 in Nasdaq
Net new 52 wk lows were leading by 93 in NYSE & 81 in Nasdaq
VIX UP 32.45% @ 15.55
Oil @ $47.09
Gold @ $1292.40
AH ER...ROST UP 11.76%, AMAT UP 3.78%
GPS UP 5.51%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was in a selling frenzy, thanks to failure of US leadership to deal with any internal issues, resignation galore in white house staff is hurting confidence in investors. When the bell rang to close this market, all indices closed @ absolute low of the day. Russell closed below 200 DMA first time in 14 months. S&P 500 and Nasdaq closed well below 50 DMA. Lot of technical damage and lower lows were made. This market needs a major rebuke from Republican leadership to restore investor confidence. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Bought BAC @ 23.77
After thinking more last night, I'm not as negative on the market as I was yesterday (and after we had quite the decline already). There may be some serious risks out there still, but I think there are many positive ways this could play out also. BAC has major upside if a positive scenario plays out.
Stocktrader
Hi Stocktrader,
Always review strategy to notice changes.
Good luck with BAC.
Saleem
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