Indices closed mixed.
S&P 500 @ 2428.37, high 2430.58, low 2417.35
RSI @ 38.63
CMF @ 0.007
Internals were :
Down volume led by 1.12 to 1 in NYSE & 1.43 to 1 in Nasdaq
Declining stocks led by 1.01 to 1 in NYSE & 1.30 to 1 in Nasdaq
Net new 52 wk lows were leading by 122 in NYSE & 95 in Nasdaq
VIX Down 7.50% @ 13.19
Oil @ $47.37
Gold @ $1296.70
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE went to new lows before turning higher than previous close, this is a very encouraging pattern from technical point of view. Many high beta technology stocks have taken rest and have pulled back to find support. Solar was the wild card today, thanks to solar eclipse, which shut down solar panels, First Solar gave some explanation, but left many confused. Hopefully, we have seen and tested the lows for now.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hi Saleem,
Sold TZA @ 17.91
I've been chasing this down most of the morning--I guess I should have just slammed it through first thing.
I think the small caps have felt enough pain for now and most people are positioned against them. I think it shifts the risk/reward in their favor (and against the TZA).
Stocktrader
Hi Saleem,
Bought MOMO @ 36.48
Stocktrader
Hi Stocktrader,
Good luck with MOMO.
Saleem
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