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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