Indices closed down 1.34% to 1.89%......

Weak earnings took a toll on market, indices closed well above low of the day.

S&P 500 @ 2029.55, low 2019.91, high 2047.86

RSI @ 47.69

CMF @ 0.022

Internals were :

Down volume led by 1.83 to 1 in NYSE & 2.76 to 1 in Nasdaq

Declining stocks led by 1.30 to 1 in NYSE & 1.64 to 1 in Nasdaq

Net new 52 wk highs were leading by 231 in NYSE & 11 in Nasdaq

VIX UP 10.95% @ 17.22

Oil @ $46.23

Gold @ $1291.70

AH ER..STLD UP 5.83%, AAPL UP 5.64%, YHOO UP 6.77%
              OTEX Down 4.35%

AH Futures UP

AH Asian markets Mixed

AH Oil & Gold Down

About market, TAPE was under major selling pressure as institutions are in selling mode. AAPL earning may give support to tech stocks, it is important to see IF Dow & S&P 500 can muster a green close. 2015 continues to be a very choppy year, January effect is being felt by many on the downside. Fed should come through for the bulls around 2.15 PM and expecting a robust close. Keep an eye on emerging sector like steel which had back to back two good earnings report from AKS & STLD.

BLOG does NOT give buy or sell.

Saleem