Indices closed down 1.09% to 1.48%......

Indices closed down.

S&P 500 @ 2127.02, low 2120.27, high 2150.47

RSI @ 37.49

CMF @ 0.125

Internals were :

Down volume led by 25.33 to 1 in NYSE & 3.31 to 1 in Nasdaq

Declining stocks led by 7.96 to 1 in NYSE & 4.37 to 1 in Nasdaq

Net new 52 wk lows were leading by 18 in NYSE & 13 in Nasdaq

VIX UP 17.74% @ 17.85

Oil @ $44.90

Gold @ $1323.70

AH Futures UP

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE went into freefall again and closed near low of the day, S&P 500 came near low of Friday but did not violate, a sign of support near 2120 area. Internals were horrible in NYSE with 25.33 to 1 down volume. Today also has the feel of capitulation and then finding support, even IF we violate support by hair, it will be triple bottom, before we take off again. In this support finding TAPE, it is important to cut loose non performing stocks and position with better quality. All we need now is 2 green close to cut through this fed led negativity.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed