Indices closed down.
S&P 500 @ 2740.69, low 2691.43, high 2753.59
RSI @ 32.46
CMF @ -0.198
Internals were :
Down volume led by 2.17 to 1 in NYSE & 1.31 to 1 in Nasdaq
Declining stocks led by 2.40 to 1 in NYSE & 2.13 to 1 in Nasdaq
Net new 52 wk lows were leading by 715 in NYSE & 496 in Nasdaq
VIX UP 5.45% @ 20.71
Oil @ $66.43
Gold @ $1236.80
AH news....PVG UP 4.56%, TER UP 4.81%
TXN Down 6%, IRBT Down 9.62%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE made a new low and turned UP a good technical picture, selling seems to have made its run already,we have been down 12 out of 14 trading days already, there buyers when DOW was down 548 points and DOW was well below 200 DMA BUT closed above 200 DMA, a very strong turnaround. Market may play jittery for a while more BUT we may have seen the lows.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hi guys,
I feel like we are hitting the climax of the selling. I'm much more positive starting from right now. S&P 2721.54.
Stocktrader
Hi guys,
Well, that level broke hard once it broke. Nothing like going out on a limb and getting rocked lol.
That said, there's some pockets of strength in tech again, like other days this week. I think we're seeing a situation where investors are finally believing in slowing global growth and worrying less about interest rates, which could shift money flows back into the new tech/high growth stocks, especially ones that are mostly insulated from global problems.
Stocktrader
Hi guys,
And...as soon as I talk about high growth tech strength, they start to cascade down also. It really seems like despondency is peaking.
Stocktrader
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