Indices closed down .48% to 1.06%....

Indices were under selling pressure but close well off their lows.


S&P 500 @ 2011.27, low 1988.44, high 2018.40


RSI @ 42.33


CMF @ -0.001


Internals were :


Down volume led by 1.97 to 1 in NYSE & 2.07 to 1 in Nasdaq


Declining stocks led by 1.52 to 1 in NYSE & 1.81 to 1 in Nasdaq


Net new 52 wk lows were leading by 87 in NYSE & 89 in Nasdaq


VIX UP 4.47% @ 21.48


Oil @ $48.48


Gold @ $1234.50


AH Futures UP


AH Asian Markets Mixed


AH Oil & Gold Down


About market, TAPE has been on a downward trajectory since start of 2015, today we got oversold and firmed UP by close. This has become a trading or daytrading market. No thesis holds for more than few hours and then selling starts all over. This TAPE is extremely difficult to understand or trade, its too volatile as oil slump has thrown everything in troubling state. IF you remain diversified in high comfort strong stocks, then you may be ahead IF you exercise patience and conviction. Retail Sales slump cannot be ignored as consumers are not sure about the economy they are living in.


BLOG does NOT give buy or sell.


Saleem

Posted in: Mixed