Indices closed UP .29% to .68%....NICE !!!!

TAPE was strong & closed near high of the day despite poor GDP data.


S&P 500 @ 1959.53, high 1960.83, low 1947.49


RSI @ 65.04


CMF @ 0.539


Internals were :


UP volume led by 2.15 to 1 in NYSE & 2.37 to 1 in Nasdaq


Advancing stocks led by 2.27 to 1 in NYSE & 1.71 to 1 in Nasdaq


Net new 52 wk highs were leading by 118 in NYSE & 18 in Nasdaq


VIX Down 4.45% @ 11.59


Oil @ $106.50


Gold @ $1322.60


Stocks which were UP 2% or more included FB RAD

WUBA KORS LNKD KOG TSL JKS CSIQ

FSLR SPWR GOOG TWTR HIMX YY

YELP TRLA Z TRIP MLNX......


AH ER BBBY Down 7.05%


AH Futures UP


AH Asian Markets UP


AH Oil UP


AH Gold Down


About market, TAPE was back on its track & ignored poor GDP number. Nasdaq closed @ its highest level since 2000. This TAPE has lot of momentum & will continue to prove sideliners wrong & will force them to join this rally. There is lot of inflow from money market funds into equities & may go into overdrive on the fear of missing the biggest bull run. July 4th celebration is looking pretty good !


BLOG does NOT give buy or sell.


Saleem

Posted in: Mixed