Monday, 10 August 2020

Indices closed mixed......

 Indices closed mixed.

S&P 500 @ 3360.47, high 3363.29, low 3335.44

RSI @ 69.79

CMF @ 0.480

Internals were :

UP volume led by 3.11 to 1 in NYSE & 1.87 to 1 in Nasdaq

Advancing stocks led by 2.45 to 1 in NYSE & 1.55 to 1 in Nasdaq

Net new 52 wk highs were leading by 174 in NYSE & 127 in Nasdaq

VIX Down .36% @ 22.13

Oil @ $41.94

Gold @ $2039.70

Canadian $ @ .6644

In my portfolio...Bought SQ @ $141.00

Portfolio AAL APA CCL MGM MSFT SQ SU

Stocks which were UP 4% or more included AAL APA CCL MGM SU NKLA NIO CGC DAL NVAX KRA NCLH BA UAL OXYYELP

WYNN LVS ULTA X M.....

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE followed a pattern of rotation which got laggards to make major moves. Technology stocks were weak and Nasdaq closed down. It is important to recognize this change in money managers focus. IF we get a breakout in these stocks then we have shifted buying pattern which may have holding power.

BLOG does NOT give buy or sell.

Saleem

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