Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2019.64, low 2012.05, high 2024.57

RSI @ 64.52

CMF @ 0.347

Internals were :

Down volume led by 1.75 to 1 in NYSE & .90 to 1 in Nasdaq

Declining stocks led by 1.28 to 1 in NYSE & 1.18 to 1 in Nasdaq

Net new 52 wk highs were leading by 44 in NYSE & 14 in Nasdaq

VIX UP 2.55% @ 16.92

Oil @ $37.18

Gold @ $1245.10

AH Futures Down

AH Asian markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE decoupled with oil today which was a very good indicator of its own strength & money flow. Next 48 hours of trading will be based on how market handicaps fed statement, as we are near high of 2016, there may be a pullback either in anticipation or actual statement. No i do not expect fed to raise rate in March, but they may indicate potential hike for June. US economy has been improving and jobs picture is robust, a key area of fed focus. It is better to be defensive until Wednesday's reaction.

BLOG does NOT give buy or sell.

Saleem