19:27
Unknown
Indices closed UP after zig zagging for most of the day. S&P 500 and Dow made a new all time high today.
S&P 500 @ 2039.33, high 2046.18, low 2030.44
RSI @ 68.14
CMF @ 0.510
Internals were :
Down volume led by 2.06 to 1 in NYSE & 1.19 to 1 in Nasdaq
Declining stocks led by 1.83 to 1 in NYSE & 1.94 to 1 in Nasdaq
Net new 52 wk highs were leading by 114 in NYSE & 80 in Nasdaq
VIX UP 5.91% @ 13.79
Oil @ $74.21
Gold @ $1161.50
AH ER ...SINA Down 3.23%, WB UP 3.72%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was under mild selling as reflected in internals, this is a healthy sign as it takes out overbought conditions. Money flow remains near @ higher levels which is a good sign for equity allocation. Many stocks are in overdrive mode like SWIR , BABA, AAPL to name a few while solar sector is under pressure and many stocks are hitting 52 wk lows. Stay exposed to this TAPE as we are in a consolidating mode.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2039.33, high 2046.18, low 2030.44
RSI @ 68.14
CMF @ 0.510
Internals were :
Down volume led by 2.06 to 1 in NYSE & 1.19 to 1 in Nasdaq
Declining stocks led by 1.83 to 1 in NYSE & 1.94 to 1 in Nasdaq
Net new 52 wk highs were leading by 114 in NYSE & 80 in Nasdaq
VIX UP 5.91% @ 13.79
Oil @ $74.21
Gold @ $1161.50
AH ER ...SINA Down 3.23%, WB UP 3.72%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was under mild selling as reflected in internals, this is a healthy sign as it takes out overbought conditions. Money flow remains near @ higher levels which is a good sign for equity allocation. Many stocks are in overdrive mode like SWIR , BABA, AAPL to name a few while solar sector is under pressure and many stocks are hitting 52 wk lows. Stay exposed to this TAPE as we are in a consolidating mode.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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