Indices closed down .69% to 1.07%.....

Indices closed down.

S&P 500 @ 1972.18, low 1965.98, high 1986.73

RSI @ 40.43

CMF @ -0.064

Internals were :

Down volume led by 1.51 to 1 in NYSE & 2.09 to 1 in Nasdaq

Declining stocks led by 1.29 to 1 in NYSE & 1.01 to 1 in Nasdaq

Net new 52 wk lows were leading by 31 in NYSE & highs by 1 in Nasdaq

VIX UP 9.14% @ 28.43

Oil @ $49.20

Gold @ $1132.50

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE is facing a retest of support in all indices, in S&P 500 it is a battle for 1900. When indices suffers break like last Monday, it takes several test and retest of support area, i do not believe that it is a retest of low of 1867.01. Any shock like Monday, deserves respect & patience from all traders. By coming Friday, we may have completed this process of repairing damage in TAPE. In the meantime, look for better entry in former leaders and observe this TAPE closely.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed