Friday, August 28, 2020

Indices closed UP .57% to .67%....NICE !!!!

 Indices closed UP not only @ high of the day but new all time highs in S&P 500 & Nasdaq. Today's TAPE action was broad based and rotation was in full swing, lot of hope based on $5 test in 5 minutes from Abbott Lab.

S&P 500 @ 3508.01, high 3509.23, low 3484.32

RSI @ 79.26

CMF @ 0.431

Internals were :

UP volume led by 3.98 to 1 in NYSE & 2.88 to 1 in Nasdaq

Advancing stocks led by 2.47 to 1 in NYSE & 2.00 to 1 in Nasdaq

Net new 52 wk highs were leading by 163 in NYSE & 117 in Nasdaq

VIX Down 6.17% @ 22.96

Oil @ $42.97

Gold @ $1974.90

Canadian $ @ .6889

Stocks which closed UP 5% or more included CCL AG FCX 

MRVL NKLA ROKU EAT SEDG NCLH JKS CSIQ RUN

WB IQ NTNX ULTA.....

In my portfolio ...Bought MGM @ $23.10

Here is my portfolio weighting :

SU           24.62%

AAL        18.06%

MGM     16.70%

CCL      11.80%

GOLD    8.18%

APA       5.26%

MU       5.11%

AG       4.27%

FCX    3.29%

RXT    2.71%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem


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