Indices closed UP 1.59% to 2.21%....NICE !!!!

Indices closed UP.

S&P 500 @ 1926.82, high 1930.68, low 1898.80

RSI @ 53.27

CMF @ 0.206

Internals were :

UP volume led by 8.03 to 1 in NYSE & 5.31 to 1 in Nasdaq

Advancing stocks led by 4.86 to 1 in NYSE & 2.68 to 1 in Nasdaq

Net new 52 wk highs were leading by 12 in NYSE & lows by 30 in Nasdaq

VIX Down 7.47% @ 22.31

Oil @ $30.66

Gold @ $1211.40

Stocks which were UP 3% or more included BIDU CNQ FB
RLYP NTES TWTR PCLN FIT LNKD NFLX TSLA SU
EXPE CMG YELP MU FEYE PANW SPLK UA CCJ
DATA SWIR CSOD MGA VRX ZG TRIP....

AH ER....NVDA UP 7.23%, ABX Down 2.35%
                 JACK Down 19.3%

AH Futures UP

AH Asian markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE has move UP 117.82 points in S&P 500 in last 3 trading days or 6.5% , this is an incredible pace for a bullish tape, expect some digestive phase. Not all boats will be lifted going forward, it will be selective and most strong stocks will participate. Focus on long term stock picking ideas as we have just begun. Most participant are perplexed @ this strong rally, market profile has changed so a different strategy is warranted vs quick trades.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed