19:28
Unknown
Indices closed down again.
S&P 500 @ 1787.87, low 1784.72
RSI @ 62.80
CMF @ 0.281
Internals were :
Down volume led by 2.28 to 1 in NYSE & 1.62 to 1 in Nasdaq
Declining stocks led by 2.27 to 1 in NYSE & 1.70 to 1 in Nasdaq
Net new 52 wk highs were leading by 38 in NYSE & 52 in Nasdaq
VIX UP 2.21% @ 13.39
Oil @ $93.34
Gold @ $1273.50
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, I am feeling a bit positive about TAPE going into Wednesday. Nasdaq was the-worst performer by shedding 71.50 points or down 1.79% while S&P 500 was down only .98%....this relative strength is encouraging. Nasdaq did react negatively to overbought conditions in two day selling, much of the froth is gone from Nasdaq. Sentiment has also turned negative in a hurry which is a contrary indicator based on my read. We may get technical bounce on Wednesday & may build from there. Fed minutes to be released @ 2 PM should give boost to equities.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1787.87, low 1784.72
RSI @ 62.80
CMF @ 0.281
Internals were :
Down volume led by 2.28 to 1 in NYSE & 1.62 to 1 in Nasdaq
Declining stocks led by 2.27 to 1 in NYSE & 1.70 to 1 in Nasdaq
Net new 52 wk highs were leading by 38 in NYSE & 52 in Nasdaq
VIX UP 2.21% @ 13.39
Oil @ $93.34
Gold @ $1273.50
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, I am feeling a bit positive about TAPE going into Wednesday. Nasdaq was the-worst performer by shedding 71.50 points or down 1.79% while S&P 500 was down only .98%....this relative strength is encouraging. Nasdaq did react negatively to overbought conditions in two day selling, much of the froth is gone from Nasdaq. Sentiment has also turned negative in a hurry which is a contrary indicator based on my read. We may get technical bounce on Wednesday & may build from there. Fed minutes to be released @ 2 PM should give boost to equities.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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