Indices closed down 1.50% to 2.41%.......

Indices closed down.

S&P 500 @ 2000.54, low 1991.68, high 2031.45

RSI @ 31.81

CMF @ -0.018

Internals were :

Down volume led by 6.45 to 1 in NYSE & 12.18 to 1 in Nasdaq

Declining stocks led by 4.25 to 1 in NYSE & 5.75 to 1 in Nasdaq

Net new 52 wk highs were leading by 7 in NYSE & lows by 180 in Nasdaq

VIX Down 7.41% @ 23.85

Oil @ $46.33

Gold @ $1324.70

AH futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE was under selling pressure from open and got a mini lift @ close. Internals were extremely negative which showed total capitulation. Selling looked washed out and close was not @ low of the day. Nasdaq felt the brunt of this selling losing 6.5% in 2 days, that used be a correction % stretched over several weeks. Today was a good opportunity to do selective buying. Expecting a green day for Tuesday.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed