Indices were under selling pressure from open till close, but we closed slightly above low of the day.
S&P 500 @ 1943.89. low 1940.08, high 1949.37
RSI @ 68.06
CMF 0.485
Internals were :
Down volume led by 1.79 to 1 in NYSE & even in Nasdaq
Declining stocks led by 1.65 to 1 in NYSE & 1.56 to 1 in Nasdaq
Net new 52 wk highs were leading by 86 in NYSE & by 55 in Nasdaq
VIX UP 5.55% @ 11.60, high 11.87
Oil @ $104.40
Gold @ $1261.20
AH Futures UP
AH Asian markets Mixed
AH Oil UP
AH Gold Down
About market, today was a reaction to overbought condition. We should be back on track again for bulls. Stay in the market as rotation into small cap is accelerating. TAPE should be green by close. New 52 wk highs help UP pretty good despite selling pressure.
BLOG does NOT give buy or sell.
Saleem
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