Indices closed UP 1.20% to 2.32%....NICE !!!!

Indices closed UP.

S&P 500 @ 3053.24, high 3053.89, low 2999.74

RSI @ 49.82

CMF @ 0.055

Internals were :

UP volume led by 5.81 to 1 in NYSE & 2.66 to 1 in Nasdaq

Advancing stocks led by 3.02 to 1 in NYSE & 1.96 to 1 in Nasdaq

Net new 52 wk highs were leading by 62 in NYSE & 64 in Nasdaq

VIX Down 8.49% @ 31.78

Oil @ $39.70

Gold @ $1781.20

Canadian $ @ .6311

In my portfolio :

Added 15% SU @ $16.74

Added 70% APA @ $13.35

Portfolio AAL APA CCL MGM SU

Stocks which were UP 4% or more included AAL CCL MGM SU
GAN TOL DAL ERI KBH ENPH JKS NVAX SEDG EAT KRA
NCLH BA VICR RUN MOMO TSLA UAL EXPE WYNN
M ULTA......

AH Futures UP

AH Asian Market Mixed

AH Oil Down

AH Gold UP

About market, TAPE surprised most traders when it opened higher and never looked back, Indices closed @ high of the day, logical question is why, there were too many portfolio Managers were waiting for a 2 day pullback and were ready to deploy funds in equities. Buying begets buying and everyone piled in near close. Chinese PMI came in above above expectations @ 50.9% vs expected 50.4% another boost to this rally and futures reflecting that.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed