18:14
Unknown
Indices closed lower on profit taking.
S&P 500 @ 2107.78, low 2098.26, high 2115.76
RSI @ 59.55
CMF @ 0.415
Internals were :
Down volume led by 1.53 to 1 in NYSE & 1.92 to 1 in Nasdaq
Declining stocks led by 1.45 to 1 in NYSE & 1.78 to 1 in Nasdaq
Net new 52 wk highs were leading by 89 in NYSE & 31 in Nasdaq
VIX UP 6.29% @ 13.86
Oil @ $50.52
Gold @ $1204.40
AH ER...AMBA UP 6.03%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE digested huge gains which prompted profit taking. Market internals turned negative with indices and may take some more digestive days. It is important to show some conviction IF fundamentals are not decelerating. Patience and diversification is the way to be in this market. Profit taking is good around lofty levels.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2107.78, low 2098.26, high 2115.76
RSI @ 59.55
CMF @ 0.415
Internals were :
Down volume led by 1.53 to 1 in NYSE & 1.92 to 1 in Nasdaq
Declining stocks led by 1.45 to 1 in NYSE & 1.78 to 1 in Nasdaq
Net new 52 wk highs were leading by 89 in NYSE & 31 in Nasdaq
VIX UP 6.29% @ 13.86
Oil @ $50.52
Gold @ $1204.40
AH ER...AMBA UP 6.03%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE digested huge gains which prompted profit taking. Market internals turned negative with indices and may take some more digestive days. It is important to show some conviction IF fundamentals are not decelerating. Patience and diversification is the way to be in this market. Profit taking is good around lofty levels.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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