Monday, August 19, 2013

Indices closed down .38% to .59%......

Indices closed near lows of the day ahead of Fed minutes to be released on Wednesday by 2 PM.

S&P 500 @ 1646.06, low 1645.84

RSI @ 35.29...rally level

CMF @ -0.028...crossed into negative after week of July 8th, 2013.

Internals were :

Down volume led by 5.68 to 1 in NYSE & 2.44 to 1 in Nasdaq

Declining stocks led by 4.32 to 1 in NYSE & 2.32 to 1 in Nasdaq

Net new 52 wk lows were leading by 444 in NYSE & 7 in Nasdaq

VIX UP 5.08% @ 15.10

Oil @ $107.10

Gold @ $1365.70

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, Markets in Asia is tumbling fast, Indonesia, Thailand & India looks very weak. Indian Rupee hits an all time low against US$, 1 US$ gets 62.82 rupees. 10 yr Bond yield @ 2.88 which in my opinion reflects Fed's future action of Taper. RSI in S&P 500 is @ a level where we have rallied in a predictable manner. Stay involved & increase exposure on the long side, @ a minimum stay put.

BLOG does NOT give buy or sell.

Saleem

2 comments:

stocktrader_1996 said...

Hey Saleem,

This is such a key day. For the bear thesis to play out, today has to end lower.

Stocktrader

Stocks100 said...

Hi Stocktrader,

RSI predicted a turn UP & its happening.......

S&P 500 made a higher low......

3.73% pullback is normal & to be expected after 400 points run....

Saleem