Indices closed UP.
S&P 500 @ 2659.99, high 2660.33, low 2651.47
RSI @ 73.78
CMF @ 0.153
Internals were :
UP volume led by 1.63 to 1 in NYSE & 1.75 to 1 in Nasdaq
Advancing stocks led by 1.17 to 1 in NYSE & .88 to 1 in Nasdaq
Net new 52 wk highs were leading by 96 in NYSE & 34 in Nasdaq
VIX Down 2.51% @ 9.34
Oil @ $57.99
Gold @ $1246.90
Stocks which were UP 1%+ included BZUN MOMO SHOP WB
TSLA AAPL NVDA AMD NTES SNAP SPWR VRX TWTR TECK
LVS WYNN QRVO MSFT CSIQ SINA AGU TRIP YELP FNSR
ORCL SPLK NKE CNX.....
AH news....JBL UP 7.22%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE finished near high of the day, Dow & S&P 500 closed @ new all time high. Internals were mixed. We are in overbought territory in Dow & S&P 500 while Nasdaq is not, SOX is a big question mark in terms of weakness. VIX @ 9.34 is near 52 wk low of 8.56. IF rotation works then technology is a good area for now while financials rest.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hi Saleem,
Sold FCX @ 15.48 to take profits.
Questions concerning China's continued building boom along with the Grasberg situation limits the upside in my opinion. I'll move to the sideline and look for another pick.
I am considering adding to EMN for the longer term or TNA for the shorter term as my long exposure declines as I am not as negative as my portfolio indicates now.
Stocktrader
Hi Saleem,
Added to EMN @ 93.05
In contrast to many tech companies, this stock has a good looking chart and improving fundamentals. I like its positioning and so added here.
Doubled up on TNA @ 68.86
For lack of a better idea, but a way to express a bullish bet, especially in light of the strong US economy and tax reform's likely passage, I went much bigger here.
Stocktrader
Hi Stocktrader,
Good luck with EMN & more TNA.....
Saleem
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