Monday, June 11, 2012

Indices closed near lows of the day......

Indices were under selling pressure right after open. It was a "sell the news" approach.

Indices closed down 1.14% to 1.70%.

S&P 500 low was 1307.72, closing @ 1308.93.

RSI @ 43.96

Internals were :

Down volume led by 10.68 to 1 in NYSE & 8.46 to 1 in Nasdaq

Declining stocks led by 3.88 to 1 in NYSE & 3.27 to 1 in Nasdaq

New 52 wk highs were in the lead, 74 in NYSE & 55 in Nasdaq

VIX closed UP 10.98% @ 23.56

Oil closed @ $82.70

Gold closed @ $1596.80

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, today was a major disappointment. Option Expiry on Friday played a major role today in closing open interest bearish bets. I am sure it took billions to accomplish this. When big players were positioned to lose billions, then they put few more billions to make their bearish trade to work. Volume was light, which proves super-computers were controlling direction. All sectors were RED today? I think, we gradually build from here again as bearish bets are out of the way. Ironically, today we had more new 52 wk highs?

BLOG does NOT give buy or sell.

Saleem

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