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19:58
Unknown
Indices reversed & closed down.
S&P 500 @ 1867.63, low 1863.88, high 1882.35
RSI @ 60.68
CMF @ 0.135
Internals were :
Down volume led by 2.56 to 1 in NYSE & 3.14 to 1 in Nasdaq
Declining stocks led by 2.07 to 1 in NYSE & 2.71 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & 110 in Nasdaq
VIX UP 4.23% @ 14.80
Oil @ $100.03
Gold @ $1346.70
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP $10.90 @ $1357.60...this a new 5 month high after touching $1355 on March 3rd 2014.
About market,TAPE was extremely disappointing as it closed near low of the day on high volume, almost opposite TAPE action today. Looks like we may be heading to test support as we made a lower low today. Based on technicals 50 DMA may be the first support in S&P 500 which is @ 1828 area. It may be prudent to have some Gold & Silver exposure. Crimea vote is on Sunday & it looks like a done deal which may further prop up Gold.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1867.63, low 1863.88, high 1882.35
RSI @ 60.68
CMF @ 0.135
Internals were :
Down volume led by 2.56 to 1 in NYSE & 3.14 to 1 in Nasdaq
Declining stocks led by 2.07 to 1 in NYSE & 2.71 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & 110 in Nasdaq
VIX UP 4.23% @ 14.80
Oil @ $100.03
Gold @ $1346.70
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP $10.90 @ $1357.60...this a new 5 month high after touching $1355 on March 3rd 2014.
About market,TAPE was extremely disappointing as it closed near low of the day on high volume, almost opposite TAPE action today. Looks like we may be heading to test support as we made a lower low today. Based on technicals 50 DMA may be the first support in S&P 500 which is @ 1828 area. It may be prudent to have some Gold & Silver exposure. Crimea vote is on Sunday & it looks like a done deal which may further prop up Gold.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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