Indices closed down .74% to 1.29%......

Indices closed down but off lows for the day.

S&P 500 @ 2002.61, low 1992.44, high 2030.25

RSI @ 37.62

CMF @ -0.188

Internals were :

Down volume led by 2.46 to 1 in NYSE & 3.62 to 1 in Nasdaq

Declining stocks led by 2.05 to 1 in NYSE & 3.30 to 1 in Nasdaq

Net new 52 wk highs were leading by 13 & lows by 37 in Nasdaq

VIX UP 6.02% @ 21.12

Oil @ $47.93

Gold @ $1219.40

AH ER MU Reported Q1 Sales @ $4.57 billion vs estimate of $4.62 billion
EPS was 97 cents vs estimate of 92 cents
Guidance for Q2 Sales was $$4.1 billion to $4.3 billion vs consensus of $4.53 billion
reason for shortfall was due to DRAM chips sales to be down as it reconfigures production line with improved technology in slow Q2. MU AH Down 4.62%.

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was under 5th day of selling pressure and have reached deeply oversold condition based on RSI, indices tried a v bottom recovery but it lost that momentum @ close. US data on manufacturing & service was below expectations. Oil continued its sharp slump and may be ready for a deeply oversold bounce. TAPE should be strong @ close.

BLOG does NOT give buy or sell.

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