Indices closed sharply lower and near major support on everything going wrong for investors and traders. First China retaliated with earlier duties than US, then Fed Chief said nothing new then Trump called enemy to both Chinese head of state and Fed chief.....then Trump ordered US companies to take their business away from China, last tweet imposition of duties much earlier on Chinese goods...Tariff war is in final stages..last salvo fired by both US & China......DOW slumped 700 points before closing @ down 623....
S&P 500 @ 2847.11, low 2834.97, high 2927.01
RSI @ 40.78
CMF @ 0.033
Internals were :
Down volume led by 10.35 to 1 in NYSE & 5.48 to 1 in Nasdaq
Declining stocks led by 4.57 to 1 in NYSE & 5.27 to 1 in Nasdaq
Net new 52 wk lows were leading by 10 in NYSE & 123 in Nasdaq
VIX UP 19.12% @ 19.87...quite tame considering trade tension???
Oil @ $54.17
Gold @ $1537.60
Canadian $ @ .6677
Stocks which closed green included NEM AEM GLD
SPLK NTNX....
Here is my portfolio weighting :
AMD 28.50%
CIEN 22.30%
TWTR 19.80%
BZUN 18.00%
SPWR 11.40%
Next post by 6 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
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