Indices closed down 2.21% to 3.41%......

Indices closed down.

S&P 500 @ 1890.28, low 1886.41, high 1950.33

RSI @ 28.45

CMF @ -0.112

Internals were :

Down volume led by 9.42 to 1 in NYSE & 7.45 to 1 in Nasdaq

Declining stocks led by 7.64 to 1 in NYSE & 6.35 to 1 in Nasdaq

Net new 52 wk lows were leading by 757 in NYSE & 559 in Nasdaq

VIX UP 12.24% @ 25.22

Oil @ $30.48

Gold @ $1087.10

AH news ....GPRO Down 24.57%, AMBA Down 10.41%

AH Futures Down

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE reversed and went down in a straight line and closed near low of the day, internals have been the worst i have seen in a while. TAPE is definitely oversold but it does not have firm buying support which is resulting in lower lows in a hurry.We have broken key support @ 1900, 1871 is next support area. Too much negativity is the only contrary indicator which may cut through negativity and give some upside.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed