Indices closed down.
S&P 500 @ 2544.73, low 2541.60, high 2551.82
RSI @ 72.21
CMF @ 0.518
Internals were :
Down volume led by 1.64 to 1 in NYSE & 1.04 to 1 in Nasdaq
Declining stocks led by 1.21 to 1 in NYSE & 1.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 168 in NYSE & 175 in Nasdaq
VIX UP 7.05% @ 10.33
Oil @ $49.58
Gold @ $1285.00
AH news...URBN UP 5.88%, BLK Down 6.07%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE closed slightly lower but internals were much weaker. How we close from hereon matters to know the direction / strength of this TAPE. We made Intraday new all time highs but gave up those gains by close. It will be better to sell in strength and buy on weakness.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Bought VRX @ 14.60
The fundamentals and chart have much improved. I think there's room for institutional allocation catchup as the business and balance sheet make progress.
Stocktrader
Hi Stocktrader,
Good luck with VRX.
Saleem
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