Indices closed UP.
S&P 500 @ 3117.43, high 3119.45, low 3103.76
RSI @ 57.67
CMF @ 0.409
Internals were :
UP volume led by 1.20 to 1 in NYSE & .78 to 1 in Nasdaq
Advancing stocks led by 1.15 to 1 in NYSE & .99 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & 8 in Nasdaq
VIX Down 1.89% @ 14.52
Oil @ $58.43
Gold @ $1483.10
Stocks which were UP 1% or more included WB TSM JKS
BZUN BIDU MOMO NEM LULU PHM AAPL VICR
CGC CRON CRUS BABA CSIQ CTRP TRIP MA
SWKS TSM NKE KBH CMG M PANW....
AH news...DOCU UP 9.93%, ULTA UP 9.31%
OKTA Down 1.90%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE closed UP 2 days in a row which is a very good thing, technically speaking. We went through digestive phase early on during the day. Internals were not very convincing yet. Jobs report is due @ 830 AM, it will set the tone for rest of the day, when market wants to go up it does not matter and will close green, which is my guess.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Saw this this morning and thought I'd pass it along. I know your work doesn't depend too much on analysts, but it stuck out to me because of how dramatic it was:
Ciena downgraded to Sell from Neutral at UBS
UBS analyst Tejas Venkatesh downgraded Ciena (CIEN) to Sell from Neutral with a price target of $31, down from $43. Operational expectations are too high following the company's two years of solid top-line outperformance, Venkatesh tells investors in a research note. Based on channel checks, the analyst believes Ciena's revenue guidance for the January quarter will miss consensus. Venkatesh is concerned about slowing Facebook (FB) spending, which was 13% of the company's revenue last quarter based industry checks, as well as spending deceleration at large tier 1 telcos such as AT&T (T).
Stocktrader
Hi Saleem,
Sold AVLR @ 75.76 to take profits
Stocktrader
Hi Saleem,
Bought ZM @ 63.50
Although this chart is horrific, the continued beat-and-raises of this magnitude can't be ignored for long. I hope the tax-related selling is complete and it can move higher into year end, especially with some short interest hanging around. It's not one I'll have a lot of patience on should it not perform, however.
Stocktrader
Hi Stocktrader,
Thanks for posting complete detail of analyst note re CIEN.....
Saw 70% comment this morning......
Saleem
Hi Stocktrader,
Good luck with ZM.....
Saleem
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