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19:25
Unknown
Indices were in freefall & closed near low of the day.
S&P 500 @ 1946.16, low 1941.72, high 1971.44
RSI @ 36.81
CMF -0.002
Internals were :
Down volume led by 5.34 to 1 in NYSE & 6.72 to 1 in Nasdaq
Declining stocks led by 3.02 to 1 in NYSE & 3.77 to 1 in Nasdaq
Net new 52 wk lows were leading by 236 in NYSE & 228 in Nasdaq
VIX UP 2.45% @ 16.71
Oil @ $90.73
Gold @ $1215.50
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, Worldwide economic weakness took a toll in US market, Germany contraction took everyone by surprise, as goes Germany, so goes Europe. All indices are well below 50 DMA. Tonight IBD is throwing the towel on this market by changing its market outlook to "market in correction". Today was brutal for internals, but it is too late to sell as RSI flashing 36.81 which is near "deeply oversold condition". I am staying the course.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1946.16, low 1941.72, high 1971.44
RSI @ 36.81
CMF -0.002
Internals were :
Down volume led by 5.34 to 1 in NYSE & 6.72 to 1 in Nasdaq
Declining stocks led by 3.02 to 1 in NYSE & 3.77 to 1 in Nasdaq
Net new 52 wk lows were leading by 236 in NYSE & 228 in Nasdaq
VIX UP 2.45% @ 16.71
Oil @ $90.73
Gold @ $1215.50
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, Worldwide economic weakness took a toll in US market, Germany contraction took everyone by surprise, as goes Germany, so goes Europe. All indices are well below 50 DMA. Tonight IBD is throwing the towel on this market by changing its market outlook to "market in correction". Today was brutal for internals, but it is too late to sell as RSI flashing 36.81 which is near "deeply oversold condition". I am staying the course.
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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