Indices were given a two prong punch...first by consumer sentiment & knockout punch by option expiry......
Indices slumped 2.52% to 3.11% in a single day....Nasdaq being the worst..thanks to GOOG miss on EPS....
S&P 500 has retraced 3.15% from its recent high....
RSI in S&P 500 is @ 45.38.....
Consumer sentiment slump is almost "not to be believed"..we are @ Oct 08 low or post 911 low...does not make sense ?
Internals were really weak.....
BUT..there is a "silver lining"..VIX which was UP 12.01% @ one time in the early going...actually kept going down as indices were slumping ..so we closed @ UP 4.42%....based on todays slump VIX should have been UP 20%+
By noon Saturday....i will list buy rated stocks.
BLOG does NOT give buy or sell.
Saleem
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