Indices closed UP .22% to .44%....NICE !!!!

Indices closed UP.

S&P 500 @ 2246.19, high 2251.69, low 2237.57

RSI @ 73.72

CMF @ 0.228

Internals were :

UP volume led by 1.86 to 1 in NYSE & 2.14 to 1 in Nasdaq

Advancing stocks led by 1.68 to 1 in NYSE & 2.06 to 1 in Nasdaq

Net new 52 wk highs were leading by 462 in NYSE & 534 in Nasdaq

VIX UP 3.44% @ 12.64

Oil @ $50.84

Gold @ $1172.40

Stocks which were UP 1% or more included FCX WB
SINA NEFF QRVO KORS VRX AMD OLED UA 
LULU COH LEN YHOO FFIV PCLN    FNSR
RIG FEYE LNG BABA MU CIEN GS AGU
MLNX SWIR CSOD MGA MS CRUS....

AH ER...FNSR UP 6.21%, AVGO UP 3.92%

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE is in major bull run not seen since 1999, IF you can believe it, RSI in Dow is @ 83.41, when was the last time anyone has seen this number, not in decades. BUT RSI in Nasdaq currently is only 62.68, S&P 500 is 73.72, nothing to be alarmed @ all, look @ 52 wk high numbers, they are creeping UP to 500.....but they have a good chance to go to 1000 new highs. The question is how to play this market, it has to be heavy in non techs, which keeps rotating from new highs to rest for 2 days, then back to new highs, Also do not forget to get rid of your losers, i dumped TWLO today, which was my biggest loser of 2016. We have 15 trading days left in in 2016, try to position for a roaring 2017.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed