Thursday, 24 September 2015

Indices closed down .34% to .48%.....

Indices closed down.

S&P 500 @ 1932.24, low 1908.92, high 1937.17

RSI @ 41.25

CMF @ 0.035

Internals were :

Down volume led by 1.42 to 1 in NYSE & 1.32 to 1 in Nasdaq

Declining stocks led by 1.48 to 1 in NYSE & 1.46 to 1 in Nasdaq

Net new 52 wk lows were leading by 338 in NYSE & 158 in Nasdaq

VIX UP 6.06% @ 23.47

Oil @ $44.91

Gold @ $1153.80

AH ER....PIR Down 6.23%, NKE UP 8.34%, JBL UP 9.38%

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE continued its basing set up which includes testing & retesting of support and moving higher from support. IF TAPE gets this painful, it only means one thing, we are ready to move higher, TAPE gave this indication yesterday by closing substantially higher than low, but had to retest support today. Fed statement tonight was a rehash of many meetings, but Fed chief not feeling 100% got more coverage. As you may have noted, i was very comfortable with highest exposure, because, i have seen these painful bout in markets before, IF you show conviction near bottom, it gives very quick return.

BLOG does NOT give buy or sell.

Saleem

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