Indices closed down 1.14% to 1.47%.....

Indices closed lower.

S&P 500 @ 1990.26, low 1979.05, high 2011.71

RSI @ 38.40

CMF @ -0.029

Internals were :

Down volume led by 5.71 to 1 in NYSE & 3.88 to 1 in Nasdaq

Declining stocks led by 2.97 to 1 in NYSE & 2.49 to 1 in Nasdaq

Net new 52 wk lows were leading by 223 in NYSE & by 152 in Nasdaq

VIX UP 6.46% @ 20.59

Oil @ $33.97

Gold @ $1091.90

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE was under severe selling pressure on Chinese weak economic data & North Korean underground testing. Indices are @ 3 month low. Chinese Central Bank is weakening Yuan for several days to bolster markets and it did work yesterday. Tonight Two biggest Chinese exchanges are tripping circuit breakers after being down 5% which meant trading halt for 15 minutes. IF they are down 7% then the exchange is shut down for the day. On the positive side, economic reports are robust in USA, as in the past, markets will stabilise first in USA then Europe followed by Asia. Asia is taking turn after US slide. We are deeply oversold in USA IF you look @ RSI @ 38.40, look for a rebound soon.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed