Indices closed UP .87% to 1.06%....NICE !!!!

Indices closed UP.

S&P 500 @ 2043.41, high 2053.87, low 2025.55

RSI @ 46.18

CMF @ -0.059

Internals were :

UP volume led by 4.98 to 1 in NYSE & 3.27 to 1 in Nasdaq

Advancing stocks led by 3.70 to 1 in NYSE & 2.36 to 1 in Nasdaq

Net new 52 wk lows were leading by 169 in NYSE & by 125 in Nasdaq

VIX Down 7.83% @ 20.95

Oil @ $37.35

Gold @ $1061.60

Stocks which were UP 2% or more  BBRY BITA CNQ FIT
JKS BIDU BABA FEYE MU LULU COH LVS GPRO CSIQ
SINA EXPE FFIV MA V FSLR SPWR AMBA SPLK X
CCJ MS VRX Z WYNN GS TRIP......

AH Futures Down

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE was strong after oil moved UP, internals of the market improved. FANG sat out this rally as other stocks participated in this rally, a diversified portfolio helps when divergence like this happens. Wednesday 2 PM will be a historic moment when direction and intensity of interest rate is decided by Fed, I am expecting a less than 25 basis more like 15 basis now and another 15 basis in couple of months and gap of @ least 3 months or "data dependent approach". That scenario or another combination like that will be taken positively by equities.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed