18:55
Unknown
Indices were under selling pressure again.
S&P 500 @ 1852.56, high 1875.92
RSI @ 49.79
CMF @ 0.043
Internals were :
Down volume led by 3.47 to 1 in NYSE & 6.66 to 1 in Nasdaq
Declining stocks led by 1.99 to 1 in NYSE & 4.05 to 1 in Nasdaq
Net new 52 wk highs were leading by 55 in NYSE & by 17 in Nasdaq
VIX UP 6.49% @ 14.93
Oil @ $100.26
Gold @ $1303.40
AH news : C Down 5.1%, PAYX UP 3.39%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE went down on high volume & all indices closed @ absolute low of the day which is a rarity. IBD tonight is changing its market outlook to "market in correction". Internals in Nasdaq was extremely bearish & selling has been intense. We may get an "oversold bounce" on Thursday but it may not signal an end to the downward moves. Only lesson is "do not fight this TAPE".......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1852.56, high 1875.92
RSI @ 49.79
CMF @ 0.043
Internals were :
Down volume led by 3.47 to 1 in NYSE & 6.66 to 1 in Nasdaq
Declining stocks led by 1.99 to 1 in NYSE & 4.05 to 1 in Nasdaq
Net new 52 wk highs were leading by 55 in NYSE & by 17 in Nasdaq
VIX UP 6.49% @ 14.93
Oil @ $100.26
Gold @ $1303.40
AH news : C Down 5.1%, PAYX UP 3.39%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE went down on high volume & all indices closed @ absolute low of the day which is a rarity. IBD tonight is changing its market outlook to "market in correction". Internals in Nasdaq was extremely bearish & selling has been intense. We may get an "oversold bounce" on Thursday but it may not signal an end to the downward moves. Only lesson is "do not fight this TAPE".......
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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