19:36
Unknown
Indices closed sharply lower as 10 yr yield spiked to highest level in two years. Retail earnings have been weak also.
S&P 500 @ 1661.32, low 1658.59
RSI @ 40.82
CMF @ .118
Internals were :
Down volume led by 3.17 to 1 in NYSE & 8.23 to 1 in Nasdaq
Declining stocks led by 5.78 to 1 in NYSE & 4.27 to 1 in Nasdaq
Net new 52 wk lows were leading by 375 in NYSE & 11 in Nasdaq
VIX UP 12.96% @ 14.73
Oil @ $107.33
Gold @ $1360.90
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, IBD has changed its market outlook tonight to "market in correction". My market outlook is "strong buy". There is strong support @ 50 DMA which is @ 1656.74 area, I expect this to hold by close. Materials & Precious Metals continue to "outperform in an extremely bad TAPE"...this is a "strong confirmation of bullish trend in those sectors"
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1661.32, low 1658.59
RSI @ 40.82
CMF @ .118
Internals were :
Down volume led by 3.17 to 1 in NYSE & 8.23 to 1 in Nasdaq
Declining stocks led by 5.78 to 1 in NYSE & 4.27 to 1 in Nasdaq
Net new 52 wk lows were leading by 375 in NYSE & 11 in Nasdaq
VIX UP 12.96% @ 14.73
Oil @ $107.33
Gold @ $1360.90
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, IBD has changed its market outlook tonight to "market in correction". My market outlook is "strong buy". There is strong support @ 50 DMA which is @ 1656.74 area, I expect this to hold by close. Materials & Precious Metals continue to "outperform in an extremely bad TAPE"...this is a "strong confirmation of bullish trend in those sectors"
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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