Indices closed mixed.
S&P 500 @ 2639.44, low 2639.03, high 2665.19
RSI @ 71.25
CMF @ 0.230
Internals were :
UP volume led by 1.45 to 1 in NYSE & .69 to 1 in Nasdaq
Advancing stocks led by 1.04 to 1 in NYSE & .79 to 1 in Nasdaq
Net new 52 wk highs were leading by 272 in NYSE & 255 in Nasdaq
VIX UP 2.19% @ 11.68
Oil @ $57.47
Gold @ 1277.70
AH news....ASNA Down 19.92%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was strong right out of the gate to celebrate passage of senate tax reform bill, Dow & S&P 500 went to a new all time high. Nasdaq was the big loser as money keeps flowing out of technology into financials & retail. By close all indices were @ low of the day, internals were mixed. I do not believe that this is a major change in direction but reshuffling of portfolios, which has played out already. Nasdaq should be back on winning track as of Tuesday close.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Sold HUBS @ 76.18
So not only is this the wrong kind of stock for this environment of lower taxes on companies with profits, but it is apparently the target of a short selling attack now by Citron. Given the backdrop of the technology environment right now, I actually fear it might work. I'm stepping to sidelines to wait for the dust to settle.
Stocktrader
Hi Stocktrader,
Good luck with your strategy.
Saleem
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