Indices closed UP.
S&P 500 @ 2467.70, high 2467.76, low 2346.58
RSI @ 36.68
CMF @ -0.100
Internals were :
UP volume led by 23.23 to 1 in NYSE & 7.81 to 1 in Nasdaq
Advancing stocks led by 4.83 to 1 in NYSE & 3.80 to 1 in Nasdaq
Net new 52 wk lows were leading by 1160 in NYSE & 705 in Nasdaq
VIX Down 15.69% @ 30.41
Oil @ $46.22
Gold @ $1273.00
Stocks which were UP 4% or more included AMD NVDA SQ
FEYE MU SWN MTCH SHOP ROKU AAPL ESTC SPLK
PRNB AMAT LRCX AMZN CIEN FFIV GOOG NFLX
OLED PANW QRVO SWKS TSLA TWTR ALDR
WB YELP FB WYNN LVS GS MS MA MLNX
MSFT ULTA NKE CMG V X M.....
AH Futures Down
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE found a solid bottom around 2346.58 in S&P 500 and it was UP UP and away, this was a painful 3 months of pullback where indices touched bear market correction of 20% pullback. YES it is safe to start your long term position on stocks which are looking better in terms of strength.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hi Saleem,
Sold AVLR @ 29.74
Bought AMRN @ 13.50
AVLR just doesn't have the growth rate to get people excited despite what could be a very large TAM in the future. I once again move to the sidelines here.
I think the chart on AMRN shapes up well for a move higher, but it needs to continue its rally from yesterday. Their peak sales estimates support valuation here.
Stocktrader
Hi guys,
(It's hard to stay too far away when the market is this volatile!)
Stocktrader
Hi Stocktrader,
Always nice to see you message even during downtime.
Good luck with AMRN.
Saleem
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