Indices closed down .69% to .87%......

Indices closed down.....

S&P 500 @ 2783.02, low 2766.06, high 2792.03

RSI @ 34.30

CMF @ -0.027

Internals were :

Down volume led by 2.02 to 1 in NYSE & 1.42 to 1 in Nasdaq

Declining stocks led by 2.05 to 1 in NYSE & 2.23 to 1 in Nasdaq

Net new 52 wk lows were leading by 111 in NYSE & 158 to 1 in Nasdaq

VIX UP 2.29% @ 17.90

Oil @ $58.81

Gold @ $1281.00

AH news....BBBY UP 4.90%, VEEV UP 7.35%

                   PVH Down 11.44%, PANW Down 5.72%

AH Futures Down

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE followed a text book pattern where every major Indices or Index not only went below 50 DMA but below 200 DMA today also, DOW, S&P 500 & Nasdaq all closed above 200 DMA same day, a remarkable coincidence. We may retest 200 DMA BUT there is a strong chance that it will be a successful RETEST. Markets are deeply oversold and VIX giving every signal that equities are ready to bounce.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed