Indices closed down .42% to .70%.....

Indices closed near low of the day after making highs in Nasdaq & S&P 500, Down missed it by 8 points.

S&P 500 @ 1949.98, low 1948.34, 1968.17

RSI @ 61.18

CMF @ 0.484

Internals were :

Down volume led by 3.66 to 1 in NYSE & 2.49 to 1 in Nasdaq

Declining stocks led by 1.69 to 1 in NYSE & 2.32 to 1 in Nasdaq

Net new 52 wk highs were leading by 155 in NYSE & 45 in Nasdaq

VIX UP 10.47% @12.13, high today 12.27

Oil @ $106.03

Gold @ $1321.30

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was under pressure from Israeli intervention in Iraq by launching Air attack & collapse of Dubai market. Dubai has crashed 25% from this May peak, it was down 6.7% today on property stocks collapse. Nasdaq was @ its highest point today since 2000. S&P 500 made a fresh all time high. Considering the two serious news out of middle east, reaction was quite muted & buyers took advantage of selling in quality stocks. I expect TAPE to resume its upward move on Wednesday.

BLOG does NOT give buy or sell.

Saleem