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19:27
Unknown
Indices were under mild selling pressure & closed lower.
S&P 500 @ 1826.77, low 1823.73
RSI @ 57.81
CMF @ 0.061
Internals were :
Down volume led by 1.33 to 1 in NYSE & 1.25 to 1 in Nasdaq
Declining stocks led by 1.16 to 1 in NYSE & 1.66 to 1 in Nasdaq
Net new 52 wk highs were leading by 105 in NYSE & 106 in Nasdaq
VIX UP 1.53% @ 13.55
Oil @ $93.43
Gold @ $1238.00
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, S&P 500 closed down for 3 straight days but the intensity of selling was missing & we did not slumped @ close...a very bullish sign. S&P 500 lost 25.71 points from absolute high or 1.39% which is pretty mild. TAPE did not go into any serious selling. When TAPE acts strong it is important to recognize that selling pressure has abated. Even TWTR recouped 50% of its losses by close. I think TAPE wants to go higher.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1826.77, low 1823.73
RSI @ 57.81
CMF @ 0.061
Internals were :
Down volume led by 1.33 to 1 in NYSE & 1.25 to 1 in Nasdaq
Declining stocks led by 1.16 to 1 in NYSE & 1.66 to 1 in Nasdaq
Net new 52 wk highs were leading by 105 in NYSE & 106 in Nasdaq
VIX UP 1.53% @ 13.55
Oil @ $93.43
Gold @ $1238.00
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, S&P 500 closed down for 3 straight days but the intensity of selling was missing & we did not slumped @ close...a very bullish sign. S&P 500 lost 25.71 points from absolute high or 1.39% which is pretty mild. TAPE did not go into any serious selling. When TAPE acts strong it is important to recognize that selling pressure has abated. Even TWTR recouped 50% of its losses by close. I think TAPE wants to go higher.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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