Tuesday, February 23, 2016

Indices closed down 1.14% to 1.47%......

Indices closed down.

S&P 500 @ 1921.27, low 1919.44, high 1942.38

RSI @ 51.61

CMF @ 0.200

Internals were :

Down volume led by 3.92 to 1 in NYSE & 3.02 to 1 in Nasdaq

Declining stocks led by 2.09 to 1 in NYSE & 2.24 to 1 in Nasdaq

Net new 52 wk highs were leading by 13 in NYSE & lows by 36 in Nasdaq

VIX UP 8.26% @ 20.98

Oil @ $31.87

Gold @ $1222.60

AH ER...FSLR UP 2.86%

AH Futures UP

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE was under pressure from lower oil prices. Indices closed near low of the day. CMF is green in all indices and IBD market outlook is "market under confirmed uptrend". Buying on weakness should pay off in the longer run. Stay with your exposure as this yo yo market may change for the better in near term.

BLOG does NOT give buy or sell.

Saleem

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