Indices gave up all their gains & lost a bit more by close......Nasdaq could not close UP "lucky 8 in a row"..a slight overbought condition.... was ripe for a minor pullback......
Why the slump in Indices......???
It was claimed by media that Chinese statement was vague & had no clarity....I guess media has never read US Fed statement ever...they are always vague ..but is always indicative of future action or inaction.....
Guess what???
Around 930 PM Chinese have announced a new "lower Yuan trading range of Dollar parity rate of 6.7980 Yuan vs Monday rate of 6.8275"....how is that for clarity & fast action by Chinese.....
Strong stocks which were UP 2% or more @ close included BIDU,TCK,
IBN,MA,V,X,TSL....
AH Futures are mixed
AH Asian market slightly lower
AH Oil ,Gold slightly lower
BLOG does NOT give buy or sell.
Saleem
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