Indices closed down .07% to .14%......

Indices closed down.

S&P 500 @ 2748.23, low 2736.06, high 2750.80

RSI @ 77.64

CMF @ 0.061

Internals were :

UP volume led by 1.09 to 1 in NYSE & 1.19 to 1 in Nasdaq

Advancing stocks led by .63 to 1 in NYSE & .92 to 1 in Nasdaq

Net new 52 wk highs were leading by 103 in NYSE & 94 in Nasdaq

VIX Down 2.58% @ 9.82

Oil @ $63.57

Gold @ $1319.30

AH news...KBH UP 3.44%, KODK UP .93%

AH Futures Mixed

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was under tremendous pressure before open when reports came out that China may limit / reduce its US bond buying, this news came after 6 straight days of record high close in S&P 500 and Nasdaq. Buyers came in immediately and scooped everything @ low of the day, when Dow & S&P 500 turned green, then came word around 2.15 PM that US is positioning to walk away from NAFTA, 3 way treaty with US, Canada & Mexico, so selling pressure came again, but, by end of the day losses were only .07% to .14%....who could have predicted this close. This TAPE has momentum, which cannot be ignored and require conviction.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed