Sunday, 8 May 2016

Last 7 days of trading......

Last 7 days of trading resulted in the following :

Nasdaq lost 285.03 points or lost 5.74%

Russell lost 45.50 points or lost 3.94%

S&P 500 lost 71.60 points or lost 3.39%

Dow lost 587.25 points or lost 3.23%

It is obvious that much feared Nasdaq performed the worst ....

Dow lost the least....

RSI are as follows :

Nasdaq @ 38.81

S&P 500 @ 47.40

Russell @ 47.96

Dow @ 49.90

Nasdaq RSI is in oversold territory

Dow is healthiest in RSI

This has been a difficult week for most traders when many stocks slumped on earnings or other news, while few went UP on good earnings.

It is getting tough again in this TAPE as earning catalyst is coming to an end.....

Jobs report was well below expectations which gave support to slumping TAPE.

It is hard to predict what will happen going forward, as we hit summer doldrums, when most hedge funds are on vacation.

Oil remains an important factor in direction of this market.

Oil stocks exposure may be a very good idea.

Good luck with your own analysis and comfort level with this market.

BLOG does NOT give buy or sell.

Saleem


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