Indices closed UP.
S&P 500 @ 2904.31, high 2911.17, low 2890.43
RSI @ 61.21
CMF @ 0.112
Internals were :
UP volume led by 1.96 to 1 in NYSE & 1.38 to 1 in Nasdaq
Advancing stocks led by 1.37 to 1 in NYSE & 1.42 to 1 in Nasdaq
Net new 52 wk highs were leading by 7 in NYSE & 2 in Nasdaq
VIX Down 6.51% @ 12.79
Oil @ $69.85
Gold @ $1202.90
Stocks which were UP 1% or more included SQ
MTCH PRNB AMAT AMZN BILI NXPI CSIQ
EXPE FSLR JKS SPWR LRCX LULU MOMO
MU NFLX SHOP ROKU CHK TK RIG FEYE
LNG YELP VICR OSTK SU NKE KBH X M
AH news...TLRY UP 8.58%, IGT Down 9.75%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE got an oversold bounce on trade slump. China & US are playing tit for tat until there is an agreement. NAFTA is also on hold between US & Canada as we are entering a do or die moment in negotiation. Internals were positive and indices stayed green from pre market to close.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi guys,
SQ is the key to the market for me today. The chart really wants to roll over, so if it can rally today, the high growth stocks are back in business after recent sluggishness despite the general market's stronger tone.
Stocktrader
Hi Saleem & Stocktrader,
I got some SQ & GRUB calls on the dip. Still have a open order for RHT
Explorer
Hi Explorer,
Good luck with the calls. I'm all short in my trading account today--played SQ already from open, working with TDOC EXAS Z now. The rotation appears to be getting more vicious as 10-yr yields rise and other non-tech sector step up.
(Disclaimer: any position I talk about in my trading account is literally for only this moment as I often quickly change ideas there intraday)
Stocktrader
Hi Saleem & Stocktrader,
What is up with pot stocks? They are going like a crypto. Specially TLRY, we have been watching since 30s
Explorer
Hi Explorer,
Sometimes insanity happens in the market haha. Investors are focusing on the eventual TAM versus current metrics. That has the shorts completely offsides, hence the price action you see. It helps that many IPO share recipients are still locked from selling shares.
Stocktrader
Hi Explorer,
TLRY WEED and ACB seems to be making crazy moves as next month pot is legal in Canada...
Have been watching to see it fly to the moon......
Saleem
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