Indices closed down.
S&P 500 @ 2716.26, low 2706.76, high 2737.60
RSI @ 48.86
CMF @ -0.40
Internals were :
Down volume led by 2.49 to 1 in NYSE & 1.13 to 1 in Nasdaq
Declining stocks led by 1.99 to 1 in NYSE & 2.05 to 1 in Nasdaq
Net new 52 wk highs were leading by 11 in NYSE & 59 in Nasdaq
VIX UP 5.86% @ 20.60
Oil @ $61.78
Gold @ $131.20
AH news....TTPH UP 9.13%, TWRH Down 2.74%
BYD Down 6.13%
AH Futures UP
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE was spooked by rising inflation and higher interest rates in treasury. WMT earnings report was a huge negative which impacted overall investor sentiment. After 6 days of huge gains, we were ripe for profit taking.Dow & S&P 500 closed below 50 DMA but Nasdaq still above. Hopefully by Wednesday close we will be back in positive mode.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteSold HCLP @ 12.10
Today's SLCA report and commentary was less than inspiring with regards to the long term earnings power of the sand and services business. Although HCLP's conference call yesterday was better, I fear the industry will remain suspect in investors' eyes.
This leaves me with more cash than I desire right now. I have to find some new picks :)
Stocktrader
ReplyDeleteHi Stocktrader,
Good luck with new picks!
Saleem