Indices closed @ absolute low of the day.
S&P 500 @ 2035.73, low 2035.73, high 2076.61
RSI @ 34.27
CMF @ 0.010
Internals were :
Down volume led by 7.79 to 1 in NYSE & 12.98 to 1 in Nasdaq
Declining stocks led by 5.74 to 1 in NYSE & 5.95 to 1 in Nasdaq
Net new 52 wk lows were leading by 343 in NYSE & 207 in Nasdaq
VIX UP 25.51% @ 19.14
Oil @ $41.32
Gold @ $1153.20
AH ER...CRM UP 2.92%, BRCD UP 5.97%
ROST Down 9.32%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was under severe selling pressure taking all indices to lowest level close of 2015. 200 DMA is where all indices are sitting below, not a pretty picture. Internals had the feel of total capitulation. We may turn UP after 11 AM once margin calls are squared away. IF you have the will to buy bargain, we may have seen that already, we are all set to rebound, China Flash PMI notwithstanding.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Well...they finally started coming after the stocks I'd been hiding in this summer. I didn't want to make any panic moves yesterday (although should have!), and with the opening prices of these stocks this morning, I think I'm stuck waiting this out now. I might slice off some of my lower beta exposure to raise cash for something really fast like a NFLX when the bottom is in.
Stocktrader
Hi Saleem,
Sold NEM @ 18.489
I feel like a gold play has served its purpose for now.
Stocktrader
Hi Stocktrader,
Another tough day in market, China slump impacting world markets.
Good luck with your strategy.
Saleem
Hi Saleem,
Bought GM @ 29.669
Stocktrader
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