Indices closed mixed.
S&P 500 @ 2639.40, high 2645.30, low 2612.67
RSI @ 45.19
CMF @ -0.030
Internals were :
Down volume led by .94 to 1 in NYSE & 1.21 to 1 in Nasdaq
Declining stocks led by 1.33 to 1 in NYSE & 1.37 to 1 in Nasdaq
Net new 52 wk lows were leading by 198 in NYSE & 68 in Nasdaq
VIX Down 1.00% @ 17.84
Oil @ $68.05
Gold @ $1322.80
AH news....NTGR Down 7.53%, FB UP 7.33%
AMD UP 9.47%, CMG UP 10.67%
AH Futures UP
AH Asian markets Mixed
AH Oil & Gold UP
About market, TAPE was impacted again by rising 10 yr yield currently @ 3.02%, highest level in 4 years. Due to extreme oversold condition indices came back and closed near high of the day, quite a reversal in a while.Earnings tonight are acting well in after hours. Tomorrow we may see a very strong day based on earnings and oversold conditions.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteI am looking to initiate an SOXS position tomorrow after INTC reports.
This will allow me to participate in my "short semis" trade I like, as well as balance out the risk in the portfolio as I really feel like the market is on weak footing.
Stocktrader
ReplyDeleteHi Stocktrader,
Your hunch is usually correct.....
Good luck with your strategy.
Saleem