Indices closed down .46% to .92%......

Indices closed @ low of the day.

S&P 500 @ 2079.28, low 2079.11, high 2093.01

RSI @ 39.07

CMF @ -0.106

Internals were :

Down volume led by 2.68 to 1 in NYSE & 2.62 to 1 in Nasdaq

Declining stocks led by 2.42 to 1 in NYSE & 1.85 to 1 in Nasdaq

Net new 52 wk lows were leading by 61 in NYSE & highs by 95 in Nasdaq

VIX UP 7.60% @ 15.29

Oil @ $58.14

Gold @ $1173.60

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

Before open LULU reports, here are the expectations :

Sales Q1 $418.94 million, EPS 33 cents

Guidance Q2 Sales $439.78 million, EPS  34 cents

There is a firefight going on between bulls and bears on this earning report, expected move is around 10%+-....being a Taurus, i remain a bull.

About market, TAPE is in the process of flushing out over optimistic traders, it may have completed the process today, Despite intense selling, internals in Nasdaq is giving hope for the bulls. Buying on weakness remains a mantra , which may be extremely productive many months out. Focus on strong stocks and have no more than 1 speculative position.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed