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
2 comments:
Hi Saleem,
Sold 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
Hi Stocktrader,
Good luck with new picks!
Saleem
Post a Comment