Thursday, May 5, 2022

Indices closed down 3.12% to 4.99%....

 Indices closed down.

S&P 500 @ 4146.87, low 4106.01, high 4270.43

RSI @ 39.83

CMF @ -0.126

Internals were :

Down volume led by 15.26 to 1 in NYSE & 4.79 to 1 in Nasdaq

Declining stocks led by 7.40 to 1 in NYSE & 4.99 to 1 in Nasdaq

Net new lows were leading by 458 in NYSE & 614 in Nasdaq

VIX UP 22.74% @ 31.20

Oil @ $108.26

Gold @ $1875.70

Canadian $ @ .7148

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI SOL UAL

Stocks which closed green included

TRIP MGNI NKLA RUN LYFT TWTR....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was in an extreme selling mode shocking most traders / investors. This selling had the feeling of extreme capitulation. Today's TAPE action took the confidence out of most traders in terms of even understanding how market works, extremely disappointing. Its all about jobs number which is around 400000 job creation.

BLOG does NOT give buy or sell.

Saleem

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