12:35
Unknown
Fed dovish stand did not do anything.....
US CHINA trade talks are becoming a sham, a totally time wasting activity
US deployment of more troops in Saudi Arabia may be used as staging ground against Iran
VIX near low of its trading range, may SURGE...
Nasdaq very close to 50 DMA...may dip below and may take other indices with it....
All of the above are major negative for coming week....
It is better to reduce exposure and become defensive
Next two weeks may not be positive for stock market
RSI in all indices needs to dip below 40 to find support....
Here is how RSI stands :
RUT 57.15
S&P 500 57.07
DOW 55.67
SOX 53.59
Nasdaq 53.39
VIX 47.37
VIX is the only bullish looking number in VIX......
Although DOW, S&P 500, SOX & RUT are well above 50 DMA....the question is for how long....
Good luck with your own analysis for this market.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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