Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2086.05, high 2089.06, low 2052.09

RSI @ 47.04

CMF @ 0.057

Internals were :

UP volume led by 1.22 to 1 in NYSE & 1.24 to 1 in Nasdaq

Declining stocks led by 1.02 to 1 in NYSE & 1.24 to 1 in Nasdaq

Net new 52 wk lows were leading by 177 in NYSE & 102 in Nasdaq

VIX Down .73% @ 13.61

Oil @ $43.30

Gold @ $1123.60

AH ER ....CSCO UP 4.05%, NTES Down 3.54%

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE found support and made a powerful V bottom in all indices. We are deeply oversold and should rally from here. Chinese Yuan devaluation has put new pressure on Chinese exposure of many corporation. Chinese economic picture has worsened with 3.5% devaluation. Strong stocks with little to no exposure to China should rally hard.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed