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
2 comments:
Hi Saleem,
I 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
Hi Stocktrader,
Your hunch is usually correct.....
Good luck with your strategy.
Saleem
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