Indices closed down .79% to .94%.....

Today was the day of selling in world markets.

S&P 500 @ 2095.84, low 2093.23, high 2112.89

RSI @ 44.54

CMF @ 0.016

Internals were :

Down volume led by 5.80 to 1 in NYSE & 2.89 to 1 in Nasdaq

Declining stocks led by 3.49 to 1 in NYSE & 2.74 to 1 in Nasdaq

Net new 52 wk lows were leading by 44 in NYSE & highs by 43 in Nasdaq

VIX UP 7.69% @ 14.71

Oil @ $58

Gold @ $1175.20

AH ER ...ZUMZ Down 8.88%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE took a tumble and closed near low of the day, Dow & S&P 500 closed below 50 DMA. Internals of the market were horrible. Everybody is in panic mode due to Jobs report. Jobs report in my opinion will be a non event and we will rally hard. Any panic day is a good day to buy strong stocks which is being sold off. Today's selling, flushed out lot of weak hands which is good for a fast rally.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed