Wednesday, May 18, 2022

Indices closed down 3.57% to 4.73%....

 Indices closed down.

S&P 500 @ 3923.68, low 3911.91, high 4051.98

RSI @ 36.35

CMF @ -0.105

Internals were :

Down volume led by 15.30 to 1 in NYSE & 4.31 to 1 in Nasdaq

Declining stocks led by 5.09 to 1 in NYSE & 3.53 to 1 in Nasdaq

Net new lows were leading by 456 in NYSE & 331 in Nasdaq

VIX UP 18.62% @ 30.96

Oil @ $109.59

Gold @ $1815.90

Canadian $ @ .7158

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed green included SOFI

TJX RUN CSIQ JKSNVAX FSR....

AH Futures Down

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE was under tremendous selling pressure thanks to TGT which gave biggest blow to profitability, margin and inventory management, there is a scare about entire retail sector despite great report from TJX. CSCO earnings are no help AH. Fear / negativity is @ optimum in the market now which may be a contrary indicator.

BLOG does NOT give buy or sell.

Saleem


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