Indices closed mixed.
S&P 500 @ 2747.71, high 2748.51, low 2737.60
RSI @ 79.05
CMF @ 0.138
Internals were :
UP volume led by 1.21 to 1 in NYSE & 1.27 to 1 in Nasdaq
Advancing stocks led by 1.40 to 1 in NYSE & 1.03 to 1 in Nasdaq
Net new 52 wk highs were leading by 232 in NYSE & 241 in Nasdaq
VIX UP 3.25% @ 9.52
Oil @ $61.73
Gold @ $1320.40
Stocks which were UP 1% or more included BIDU SHOP
TSLA ROKU BZUN NVDA AMD JD OLED TWTR
TECK AMZN QRVO FFIV PCLN TWLO FNSR
TK RIG YELP CIEN ORCL OSTK SPLK
KORS KBH CMG X......
AH news URBN Down 5.31%
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE continued its momentum by closing @ high of the day in Nasdaq & S&P 500, these indices closed @ a new all time high. This market has too much buying momentum and it will gather more steam once we cross 2800 in S&P 500. Strong stocks near breakout are the best bet in this type of environment. New series of all time highs in stocks is playing out.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hi Saleem,
Sold SPLK @ 89.21 to take profits.
I think this might be one of the most vulnerable stocks to a pullback if fears of higher rates and focus on tax-beneficiaries continue.
Stocktrader
Hi Saleem,
Trimmed TNA @ 74.41 to take profits.
After an extended run and the potential for more choppiness ahead, I decided to trim here. I almost sold it all, but thought that might be excessive. I still might possibly make that decision as the market develops.
Stocktrader
Hi Stocktrader,
Booking profit is a good strategy.
Nice run in SPLK & TNA.
Saleem
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