19:38
Unknown
TAPE was under selling pressure again.
S&P 500 @ 1963.71, low 1959.46, high 1976.39
RSI @ 57.82
CMF @ 0.324
Internals were :
Down volume led by 2.46 to 1 in NYSE & 6.34 to 1 in Nasdaq
Declining stocks led by 2.46 to 1 in NYSE & 3.86 to 1 in Nasdaq
Net new 52 wk highs were leading by 38 in NYSE & lows by 6 in Nasdaq
VIX UP 5.74% @ 11.98
Oil @ $103.40
Gold @ $1316.50
AH ER AA UP 1.21%
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold UP
About market, tonight IBD has changed its market outlook to "market under pressure". TAPE was extremely weak with high beta being crushed big time. Nasdaq internals were close to capitulation levels. Selling was intense & on high volume. Looks like another negative day & we may see a "turnaround by close". Dow may be the first index to find support, i am hoping that 16,722.55 will hold. Carter Worth is downright pessimistic & looking for 10% correction. Even if he is right we may see "oversold bounce" on Wednesday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1963.71, low 1959.46, high 1976.39
RSI @ 57.82
CMF @ 0.324
Internals were :
Down volume led by 2.46 to 1 in NYSE & 6.34 to 1 in Nasdaq
Declining stocks led by 2.46 to 1 in NYSE & 3.86 to 1 in Nasdaq
Net new 52 wk highs were leading by 38 in NYSE & lows by 6 in Nasdaq
VIX UP 5.74% @ 11.98
Oil @ $103.40
Gold @ $1316.50
AH ER AA UP 1.21%
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold UP
About market, tonight IBD has changed its market outlook to "market under pressure". TAPE was extremely weak with high beta being crushed big time. Nasdaq internals were close to capitulation levels. Selling was intense & on high volume. Looks like another negative day & we may see a "turnaround by close". Dow may be the first index to find support, i am hoping that 16,722.55 will hold. Carter Worth is downright pessimistic & looking for 10% correction. Even if he is right we may see "oversold bounce" on Wednesday.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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