Indices closed mixed....

Indices closed mixed.

S&P 500 @ 2015.93, low 2005.23, high 2015.94

RSI @ 63.36

CMF @ 0.336

Internals were :

Down volume led by 2.85 to 1 in NYSE & 2.58 to 1 in Nasdaq

Declining stocks led by 2.87 to 1 in NYSE & 2.99 to 1 in Nasdaq

Net new 52 wk highs were leading by 44 in NYSE & lows by 14 in Nasdaq

VIX Down .47% @ 16.84

Oil @ $36.34

Gold @ $1231.00

AH  action....ORCL UP 4.19%, CMG Down 5.77%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE defied linkage with oil for two days and closed @ high of the day. Closing was extremely impressive technically speaking. Internals of the market was the flip side, extremely weak, that begs the question, why internals were so weak when we closed @ high of the day.When i see contradictory move, i do not know what to make of it. So, oil and gold both corrected for 2 days which should give these sector a nice base to move from. Fed statement will create usual gyration until 3 PM, then real market may emerge, sometimes it takes Thursday morning quarter backing to get the direction right.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed