Indices closed down 1.01% to 1.64%......

Indices sold off hard.

S&P 500 @ 2085.51, low 2077.59, high 2105.52

RSI @ 46.68

CMF @ 0.101

Internals were :

Down volume led by 2.98 to 1 in NYSE & 4.08 to 1 in Nasdaq

Declining stocks led by 3.40 to 1 in NYSE & 3.32 to 1 in Nasdaq

Net new 52 wk lows were leading by 17 in NYSE & 42 in Nasdaq

VIX UP 10.83% @ 14.84

Oil @ $59.63

Gold @ $1182.40

AH ER..FSLR Down 4.39%, LNKD Down 20.81%
              FEYE UP 2.42%, SWKS UP 3.73%, EXPE UP 5.37%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE got beaten UP pretty bad and all indices are below 50 DMA. Internals took a fall with indices and registering between 3 to 1 & 4 to 1 negative read, this generally means TAPE got its capitulation selling today, like a much needed washout. This may have cleared the way for an oversold bounce. IF there is a bounce, we may last for few days as most panic selling is out of the way, that is the nature of this market.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed