Indices closed UP.
S&P 500 @ 2644.69, high 264986, low 2573.61
RSI @ 45.78
CMF @ -0.128
Internals were :
UP volume led by 3.09 to 1 in NYSE & 3.06 to 1 in Nasdaq
Advancing stocks led by 2.22 to 1 in NYSE & 2.95 to 1 in Nasdaq
Net new 52 wk lows were leading by 63 in NYSE & 54 in Nasdaq
VIX Down 4.93% @ 20.06
Oil @ $63.37
Gold @ $1340.20\
AH news.....CNAT Down 33.44%, URBN UP 3.64%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE went into a dizzying spell with China giving reply to US policies with a list of tariffs, that did not sit well with market participant, cooler heads prevailed as there is a belief that these trade tit for tat will result in major compromise. Market erased all its sharp 500 point slump in Dow and closed UP in all indices. This back to back gains are technically significant in terms of future direction.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hi Saleem,
Sold OPTN @ 18.75
I'm concerned about the lack of upcoming catalysts, and the relative underperformance during this huge market rally puts the stock at risk. I'll step to the sidelines for now.
Stocktrader
Hi Saleem,
Ugh, I stated the next earnings revision would be down for MU, but then bought anyways. I should have stayed away...
Stocktrader
Hi Stocktrader,
MU is a very tricky stocks based on how analysts view its business trend...
Saleem
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