Indices closed down .59% to .70%.......

Indices closed lower in reaction to Fed conference call.

S&P 500 @ 1860.77, low 1850.35, high 1874.14

RSI @ 54.62

CMF @ 0.084

Internals were :

Down volume led by 2.80 to 1 in NYSE & 1.65 to 1 in Nasdaq

Declining stocks led by 3.05 to 1 in NYSE & 1.56 to 1 in Nasdaq

Net new 52 wk highs were leading by 81 in NYSE & 112 in Nasdaq

VIX UP 4.13% @ 15.12

Oil @ $100.37

Gold @ $1341.30, low today $1327.80, low AH $1326.10, Friday high was $1388

AH ER : JBL Down 3.34%, XONE Down 10.40%

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE went into "negative overdrive" the minute more clarity was given by Fed in terms of ending Tapering by October of this year & in Q2 of 2015 first increase in interest rate. This is a clear "over-reaction" to a well defined & reasoned approach by Fed. VIX did not go into overdrive & indices closed well above lows of the day. I am expecting a green close on Thursday.

BLOG does NOT give buy or sell.

Saleem