Indices closed UP .94% to 2.13%....NICE !!!!

Indices closed UP.

S&P 500 @ 3197.52, high 3200.95, low 3127.66

RSI @ 59.50

CMF @ 0.043

Internals were :

UP volume led by 3.00 to 1 in NYSE & 2.32 to 1 in Nasdaq

Advancing stocks led by 1.92 to 1 in NYSE & 1.63 to 1 in Nasdaq

Net new 52 wk highs were leading by 54 in NYSE & 18 in Nasdaq

VIX Down 8.29% @ 29.52

Oil @ $40.29

Gold @ $1813.40

Canadian $ @ .6389

Portfolio AAL APA CCL MGM SU

Stocks which were UP 2% or more included APA SU
AMD SQ AUY NEM DOCU CNQ CNX TOL KBH 
ENPH NVAX SEDG KRA MRNA PHM RUN X
NVDA MCD AEM FSLR OXY SLB OSTK...

AH Futures UP

AH Asian Markets UP

AH Oil UP 

AH Gold Down

About market, TAPE continued selling / margin calls after open, Nasdaq was down 200 points further deep into serious pullback. Banks earnings did not help & DAL warned of slower business near term. Then came renewed buying on optimism on treatment of COVID-19. Indices shot up and optimistic bears had to cover their shorts in a hurry. Indices closed @ high of the day. As the saying goes " never fight the Fed " some technicians are not getting this message.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed