Indices closed down.
S&P 500 @ 2744.28, low 2744.22, high 2789.15
RSI @ 52.33
CMF @ -0.103
Internals were :
Down volume led by 7.64 to 1 in NYSE & 2.78 to 1 in Nasdaq
Declining stocks led by 3.38 to 1 in NYSE & 3.07 to 1 in Nasdaq
Net new 52 wk highs were leading by 36 in NYSE & 49 in Nasdaq
VIX UP 17.66% @ 18.59
Oil @ $63.01
Gold @ $1318.60
AH news...SQ Down 1.98%, ETSY UP 14.88%
SQ earnings report was a beat in Sales and EPS...
Q4 Sales Actual $283 Million vs expectations of $267 Million a beat by $16 Million,
EPS actual 8 cents vs expectations of 7 cents,
Guiding Q1 Sales much higher than consensus, guiding Q1 Sales @ $290 to $295 million vs expectations of $272 Million,
EPS guidance is between 3 & 5 cents below consensus of 8 cents
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was under selling pressure due to testimony from new Fed chief who is calling for many interest rate hikes to contain inflation. Market had recovered quite a bit, so there was some profit taking. Hopefully market has discounted ever changing interest rate picture. Internals were weak and we closed @ absolute low of the day.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Sold TNA @ 68.44
I'm more concerned about the market here now that the economic data is showing signs of weakening again. I may make some other moves today to address my concerns.
Stocktrader
Hi Saleem,
Sold BAC @ 32.53
Sold X @ 43.54
Sold CHK @ 2.83
Stocktrader
Hi Stocktrader,
TAPE is becoming sloppy....
Good luck with your strategy!
Saleem
Hi Saleem,
Added a little to MHO @ 29.90
I feel like homebuilders and this stock are washed out. I'm playing for a bounce off the 200 DMA.
Stocktrader
Hi Stocktrader,
Good luck with more MHO.
Saleem
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