Indices closed down 2.32% to 3.03%.....

Indices closed down.

S&P 500 @ 1943.09, 1938.83, high 1985.32

RSI @ 32.04

CMF @ -0.088

Internals were :

Down volume led by 8.30 to 1 in NYSE & 8.61 to 1 in Nasdaq

Declining stocks led by 6.52 to 1 NYSE & 6.39 to 1 in Nasdaq

Net new 52 wk lows were leading by 482 in NYSE & by 341 in Nasdaq

VIX UP 21.37% @ 24.99

Oil @ $33.27

Gold @ $1107.80

AH ER...SODA UP 8.72%, CRUS Down 4.85%
                QRVO Down 11.28%

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE panicked in US on Chinese exchange shut down and closed near low. Most participant have not seen shut down of 2 major exchanges in 30 minutes of trading. Sell first and wait for sanity to come back in world markets does not match with opportunities which may have been staring @ everyone. CNBC is panic driven tonight and creating a scenario of who can top this in panicking, tomorrow they all may regret what they said. When RSI hit 32.04, it is a safe bet to be in market not out. My exposure is highest ever not because i want to lose my capital but a measured entry into high reward and less risk scenario.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed