Wednesday 22 June 2016

Indices closed down .17% to .27%......

Indices closed lower.

S&P 500 @ 2085.45, low 2084.36, high 2099.71

RSI @ 51.05

CMF @ 0.130

Internals were :

Down volume led by 1.79 to 1 in NYSE & 1.54 to 1 in Nasdaq

Declining stocks led by 1.44 to 1 in NYSE & 1.45 to 1 in Nasdaq

Net new 52 wk highs were leading by 114 in NYSE & 14 in Nasdaq

VIX UP 14.56% @ 21.17

Oil @ $49.13

Gold @ $1270.00

AH ER...BBBY Down 4.26%, RHT Down 6.71%

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed near low of the day, as jitters developed into close about Brexit. Based on futures and latest polls showing stay in EU has the lead, this victory could trigger a huge rally. Most sectors were weak into close and VIX shot UP to highest level of 2016. In crisis patience and conviction is required, which should pay off nicely in this scenario also.

BLOG does NOT give buy or sell.

Saleem

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