19:36
Unknown
Indices fought off selling and closed green.
S&P 500 @ 2022.55, high 2028.94, low 2004.49
RSI @ 46.69
CMF @ -0.026
Internals were :
Down volume led by 1.48 to 1 in NYSE & .91 to 1 in Nasdaq
Declining stocks led by 1.56 to 1 in NYSE & 1.42 to 1 in Nasdaq
Net new 52 wk highs were leading by 118 in NYSE & lows by 34 in Nasdaq
VIX Down 5.06% @ 19.89
Oil @ $46.39
Gold @ $1294.20....looking strong
AH ER..IBM Down 1.85%, CREE UP 7.11%, NFLX UP 15.90%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE continues to churn UP, DOWN then UP again, this implies market is very nervous about many things, there is Oil plus Central Banks trying to steer this market. TAPE staying below 50 DMA is not a good thing, we need to go above 50 DMA and stay above for days to give confidence to traders. Currencies have taken a toll and big players are scrambling to either cover from equities or liquidating equity to stay afloat. Rallies are being sold and barely green close is not building confidence. Wednesday may be challenging in markets in anticipation of QE from ECB, it may fell short of expectations, Gold is a very good hedge in this uncertain markets.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2022.55, high 2028.94, low 2004.49
RSI @ 46.69
CMF @ -0.026
Internals were :
Down volume led by 1.48 to 1 in NYSE & .91 to 1 in Nasdaq
Declining stocks led by 1.56 to 1 in NYSE & 1.42 to 1 in Nasdaq
Net new 52 wk highs were leading by 118 in NYSE & lows by 34 in Nasdaq
VIX Down 5.06% @ 19.89
Oil @ $46.39
Gold @ $1294.20....looking strong
AH ER..IBM Down 1.85%, CREE UP 7.11%, NFLX UP 15.90%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE continues to churn UP, DOWN then UP again, this implies market is very nervous about many things, there is Oil plus Central Banks trying to steer this market. TAPE staying below 50 DMA is not a good thing, we need to go above 50 DMA and stay above for days to give confidence to traders. Currencies have taken a toll and big players are scrambling to either cover from equities or liquidating equity to stay afloat. Rallies are being sold and barely green close is not building confidence. Wednesday may be challenging in markets in anticipation of QE from ECB, it may fell short of expectations, Gold is a very good hedge in this uncertain markets.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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