Indices closed UP 1.25% to 1.48%...NICE !!!!

Indices closed UP.

S&P 500 @ 2924.58, high 2930.50, low 2905.67

RSI @ 51.67

CMF @ 0.138

Internals were :

UP volume led by 4.96 to 1 in NYSE & 3.70 to 1 in Nasdaq

Advancing stocks led by 3.24 to 1 in NYSE & 2.69 to 1 in Nasdaq

Net new 52 wk highs were leading by 146 in NYSE & lows by 6 in Nasdaq

VIX Down 7.60% @ 17.88

Oil @ $56.71

Gold @ $1536.90

Stocks which were UP 2% or more  AMD BZUN CIEN MRVL
LSCC MOMO FB IQ HUYA TSLA NVDA MU LRCX WB ROKU
AMAT BABA QRVO NTNX MS SU ULTA SWKS NKE XLNX
X CNX.....

AH news....ULTA Down 21.51%, MRVL Down 6.82%

                   AMBA UP 19.17%, DELL UP 9.02%

MRVL reported a beat in Sales and EPS in Q 2, its guidance was lower than consensus due to HUAWEI impact and ongoing trade issues. MRVL is still guiding sequential increase in Sales and EPS for Q 3. Conference call was upbeat and extremely confident going forward.

AH Futures Down

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE was strong and closed near high of the day. Internals were strong. Market has found its footing and will move on news and earnings flow. Earnings tonight are mixed and will react accordingly. It is good to have a diversified portfolio to benefit from rotation.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed