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20:09
Unknown
Indices closed lower in reaction to Fed conference call.
S&P 500 @ 1860.77, low 1850.35, high 1874.14
RSI @ 54.62
CMF @ 0.084
Internals were :
Down volume led by 2.80 to 1 in NYSE & 1.65 to 1 in Nasdaq
Declining stocks led by 3.05 to 1 in NYSE & 1.56 to 1 in Nasdaq
Net new 52 wk highs were leading by 81 in NYSE & 112 in Nasdaq
VIX UP 4.13% @ 15.12
Oil @ $100.37
Gold @ $1341.30, low today $1327.80, low AH $1326.10, Friday high was $1388
AH ER : JBL Down 3.34%, XONE Down 10.40%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE went into "negative overdrive" the minute more clarity was given by Fed in terms of ending Tapering by October of this year & in Q2 of 2015 first increase in interest rate. This is a clear "over-reaction" to a well defined & reasoned approach by Fed. VIX did not go into overdrive & indices closed well above lows of the day. I am expecting a green close on Thursday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1860.77, low 1850.35, high 1874.14
RSI @ 54.62
CMF @ 0.084
Internals were :
Down volume led by 2.80 to 1 in NYSE & 1.65 to 1 in Nasdaq
Declining stocks led by 3.05 to 1 in NYSE & 1.56 to 1 in Nasdaq
Net new 52 wk highs were leading by 81 in NYSE & 112 in Nasdaq
VIX UP 4.13% @ 15.12
Oil @ $100.37
Gold @ $1341.30, low today $1327.80, low AH $1326.10, Friday high was $1388
AH ER : JBL Down 3.34%, XONE Down 10.40%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE went into "negative overdrive" the minute more clarity was given by Fed in terms of ending Tapering by October of this year & in Q2 of 2015 first increase in interest rate. This is a clear "over-reaction" to a well defined & reasoned approach by Fed. VIX did not go into overdrive & indices closed well above lows of the day. I am expecting a green close on Thursday.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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