Indices closed down .29% to 1.34%...

Indices closed down near low of the day.

S&P 500 @ 2053.44, low 2049.57, high 2065.78

RSI @ 61.69

CMF @ 0.355

Internals were :

Down volume led by 3.37 to 1 in NYSE & 5.10 to 1 in Nasdaq

Declining stocks led by 3.47 to 1 in NYSE & 3.70 to 1 in Nasdaq

Net new 52 wk lows were leading by 111 in NYSE & 104 in Nasdaq

VIX UP 7.2% @ 14.29

Oil @ $69.00

Gold @ $1218.10

AH Futures UP

AH Asian markets UP

AH Oil & Gold Down

About market, TAPE was under selling pressure from open after Chinese & German data was below expectations. US ISM came in better than expected but lower than previous month. Market internals has taken a turn for the worse, which means it is important to watch, how we close on Tuesday. I expect more downward pressure this week which may come on Wednesday. Expect beaten down sectors like Gold to continue its march higher, because on Sunday India lifted all the conditions for Gold imports, they now have only 10% duty.

BLOG does NOT give buy or sell.

Saleem