Indices closed mixed.......

Indices closed mixed.

S&P 500 @ 2837.54, low 2824.81, high 2852.97

RSI @ 83.03

CMF @ 0.417

Internals were :

Down volume led by .78 to 1 in NYSE & 1.80 to 1 in Nasdaq

Declining stocks led by 1.29 to 1 in NYSE & 1.83 to 1 in Nasdaq

Net new 52 wk highs were leading by 322 in NYSE & 365 in Nasdaq

VIX UP 3.33% @ 11.47

Oil @ $65.61

Gold @ $1356.30

AH news...VAR UP 13.14%, XLNX UP 5.2%
                 TER Down 2.97%, CLS Down 7.43%

AH Futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE started nicely higher and made all new all time highs on an intraday basis, then started to react to trade war comments and US$ weakness strategy by US officials, as TAPE was overbought, it gave an excuse to lock profit, thus a sharp decline in all indices. Resiliency of this TAPE was obvious when traders stepped in @ lows of the day, indices erased majority of losses by close and Dow closed @ new all time high. VIX was giving a clear signal that this selling has no leg and was contained in a narrow range. Today's selling gave a new leg to this bull run.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed