Tuesday, May 2, 2023

Indices closed down 1.08% to 1.16%...

 Indices closed down.

S&P 500 @ 4119.58, low 4089.72, high 4164.10

RSI @ 53.07

CMF @ 0.149

Internals were :

Down volume led by 5.12 to 1 in NYSE & 1.86 to 1 in Nasdaq

Declining stocks led by 3.55 to 1 in NYSE & 2.44 to 1 in Nasdaq

Net new lows were leading by 133 in NYSE & 380 in Nasdaq

VIX UP 10.57% @ 17.78

Oil @ $71.66

Gold @ $2023.30

Canadian $ @ .6369

Portfolio ARKK AI SHOP SNAP SQ

Stocks which closed green included 

COIN RIOT AG GE RCL QCOM

QRVO PAAS MSTR GOLD NXPI

NEM AEM ZI UBER DHI MCD

AMZN CRUS AMD BROS 

OSTK CMG....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE remained under Fed induces banking crisis of inverted yield which is playing havoc with deposits. Washington lack of agreement on Government funding played a role also in today's slump. Expecting Fed statement to backtrack on highest rate for a long time mantra and do an about turn on many policies.

BLOG does NOT give buy or sell.

Saleem

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