Indices closed down .93% to 2.13%.......

Indices closed down.

S&P 500 @ 2438.21, low 2437.75, high 2465.38

RSI @ 37.94

CMF @ 0.212

Internals were :

Down volume led by 6.67 to 1 in NYSE & 4.27 to 1 in Nasdaq

Declining stocks led by 6.56 to 1 in NYSE & 3.85 to 1 in Nasdaq

Net new 52 wk lows were leading by 83 in NYSE & 118 in Nasdaq

VIX UP 44.37% @ 16.04

Oil @ $48.59

Gold @ $1290.10

AH ER.....SNAP Down 16.78%, NVDA Down 6.71%

NVDA earnings report was stellar & better than anybody's expectation.
NVDA big beat on Sales , EPS and guidance.
Conference call was extremely upbeat and got around 4 congratulations from analysts.....why the slump during the day or AH....who knows????

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE reacted finally to North Korea's situation and closed @ low of the day, S&P 500 and Nasdaq closed well below 50 DMA, this resulted in more selling going into close and after hour. Many technicians are covering their portfolio with protection in many forms. Dow is well above 50 DMA, unless this important and strongest index stays above 50 DMA, i will not read too much into current technical weakness. CMF remained positive in all 3 major indices. Nasdaq RSI @ 37.72 is telling me that we may be near bottom of this slump. There is only a closing BLOG on Friday's, this time it will be right after regular close around 430PM.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed