Indices closed down .21% to .35%........

Indices were under pressure all day, it made a brave effort to be in green, but close was in the red.

S&P 500 closed @ 1310.33.

RSI 36.53

Internals were :

Down volume led by 1.21 to 1 in NYSE & 1.58 to 1 in Nasdaq

Declining stocks led by 1.08 to 1 in NYSE & 1.10 to 1 in Nasdaq

New 52 wk lows were in the lead, 125 in NYSE & 93 in Nasdaq

VIX down .33% @ 24.06

Oil @ $86.53

Gold @ $1564.20

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

Chinese official PMI for May came in @ 50.4 vs expectations of 52.2, April was @ 53.3 a 13 month high. Chinese official statement was that growth will pick up in 2nd half, which is a general consensus. Anything above 50 is a growing economy.I do not see  recession which CNBC will trumpet.

Indian GDP for Q1 came in @ 5.3% lowest growth rate in 9 years. Q4 growth was 6.1%...a steep drop from Q4.....

About market, market has discounted slow growth for the most part for China, India & US. Jobs report shortfall could be part of this. I expect market to fight its way out of Jobs data & Chinese slow PMI growth. Yes... it is very painful near bottom, but today's TAPE was very encouraging. I recommend staying the course, as most bad news are out already.

BLOG does NOT give buy or sell.

Saleem