Indices are in freefall and closed @ low of the day.
S&P 500 @ 2046.68, low 2044.66, high 2077.66
RSI @ 36.56
CMF @ -0.113
Internals were :
Down volume led by 16.33 to 1 in NYSE & 10.84 to 1 in Nasdaq
Declining stocks led by 5.08 to 1 in NYSE & 4.84 to 1 in Nasdaq
Net new 52 wk lows were leading by 166 in NYSE & 129 in Nasdaq
Oil @ $51.65
Gold @ $1163.50
AH ER ..AA Down .57%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, This TAPE has turned bearish, extreme defensive posture is required. Today is lowest close since March, not a good sign. Internals are collapsing. When TAPE turns negative like this week, it is hard to predict where we will stop for support, technical bounce to be used for selling. Watch how we close on a daily basis, until we find fundamental reason to be optimistic, stay defensive. Do not add to exposure, no matter how cheap price may look. Stay with solid core portfolio.
BLOG does NOT give buy or sell.
Saleem
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