Indices closed down 3.35% to 3.71%....

Indices closed down.

S&P 500 @ 3225.89, low 3214.65, high 3259.81

RSI @ 36.70

CMF @ 0.103

Internals were :

Down volume led by 10.87 to 1 in NYSE & 4.00 to 1 in Nasdaq

Declining stocks led by 6.74 to 1 in NYSE & 6.04 to 1 in Nasdaq

Net new 52 wk lows were leading by 112 in NYSE & 110 in Nasdaq

VIX UP 46.55% @ 25.03

Oil @ $51.43

Gold @ $1676.60

Canadian $ @ .6713

In my portfolio :

Sold QCOM @ $83.06

Bought IQ @ $23.78

Portfolio HUYA IQ LSCC LK MRVL

Stocks which closed green included IQ
NEM AEM FSLR....

AH news...PANW Down 13.50%, SHAK 12.94%

                  CLVS Down 9.07%.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was in sharp slump due to spreading of Corona Virus in South Korea , Iran & Italy. Market was vulnerable to headlines like that after 2 day of pullback which caused panic selling today. Technicians were having field day predicting as much as 12% correction. Prediction is a very risky business many technicians are out of mind from Prechter to Granville on faulty models. We may have oversold already.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed