Indices closed down.
S&P 500 @ 2358.84, low 2344.73, high 2365.87
RSI @ 51.58
CMF @ -0.007
Internals were :
Down volume led by 2.12 to 1 in NYSE & 1.93 to 1 in Nasdaq
Declining stocks led by 1.28 to 1 in NYSE & 2.56 to 1 in Nasdaq
Net new 52 wk highs were leading by 78 in NYSE & 65 in Nasdaq
VIX UP 0.08% @ 12.38
Oil @ $50.24
Gold @ $1255.20
AH News ...KATE Down 9.74%. TTWO Down 7.88%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE was under selling pressure due to weak auto sales. Buyers stepped in near lows of the day and erased majority of losses. S&P 500 retested 50 DMA and held.There is a wait and see approach by most institutions as to how economic policies are implemented, there is very little clarity @ this stage. Stay with your high comfort position, as market can turn on a dime both north and south.
BLOG does NOT give buy or sell.
Saleem
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