11:49
Unknown
Many are wondering if the rally will run out of steam, before we deal with that question, we need to see where all the major indices are .
S&P 500 @ 1955.06, 50 DMA @ 1957.06
Dow @ 16662.91, 50 DMA @ 16848.75
Nasdaq @ 4464.93, 50 DMA @ 4396.24
Russell @ 1141.65, 50 DMA @ 1159.59
SOX @ 624.60, 50 DMA @ 628.50
As we can see that, only Dow is lagging & most indices are in the process of taking out 50 DMA, this is a very healthy picture of market internals.
Institutions have been net sellers in a big way, in previous 4 weeks 6.7 billions were taken out from equities in a straight line, only last week saw an inflow of .71 Billion.....even this 5 wk picture is showing major improvement.
Based on all of the above stat, we definitely can see that tide of negativity has turned and many things have been discounted.
International flash points are showing sign of fatigue & may find a "face saving resolutions"...this may trigger a very strong relief rally......
Based on how i am analyzing everything, it is safe to conclude that risk may be coming out of market.
I am encouraging selective buying in breakout stocks like FB, AAPL, TWTR, SWIR, MU, QIHU, TSLA, EGO to name a few.....
SO....the tide may have turned for a prosperous few months going into Q3 earnings....
Good luck with your strategy.
BLOG does NOT give buy or sell.
Follow me on twitter @saleemakhtar87
Saleem
S&P 500 @ 1955.06, 50 DMA @ 1957.06
Dow @ 16662.91, 50 DMA @ 16848.75
Nasdaq @ 4464.93, 50 DMA @ 4396.24
Russell @ 1141.65, 50 DMA @ 1159.59
SOX @ 624.60, 50 DMA @ 628.50
As we can see that, only Dow is lagging & most indices are in the process of taking out 50 DMA, this is a very healthy picture of market internals.
Institutions have been net sellers in a big way, in previous 4 weeks 6.7 billions were taken out from equities in a straight line, only last week saw an inflow of .71 Billion.....even this 5 wk picture is showing major improvement.
Based on all of the above stat, we definitely can see that tide of negativity has turned and many things have been discounted.
International flash points are showing sign of fatigue & may find a "face saving resolutions"...this may trigger a very strong relief rally......
Based on how i am analyzing everything, it is safe to conclude that risk may be coming out of market.
I am encouraging selective buying in breakout stocks like FB, AAPL, TWTR, SWIR, MU, QIHU, TSLA, EGO to name a few.....
SO....the tide may have turned for a prosperous few months going into Q3 earnings....
Good luck with your strategy.
BLOG does NOT give buy or sell.
Follow me on twitter @saleemakhtar87
Saleem
Posted in: Mixed
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