Indices closed down .47% to .52%......

Indices closed down.

S&P 500 @ 2557.15, low 2544.00, high 2567.40

RSI @ 61.35

CMF @ 0.386

Internals were :

Down volume led by 3.06 to 1 in NYSE & 2.60 to 1 in Nasdaq

Declining stocks led by 2.96 to 1 in NYSE & 2.07 to 1 in Nasdaq

Net new 52 wk lows were leading by 3 in NYSE & highs by 17 in Nasdaq

VIX UP .63% @ 11.23

Oil @ $52.18

Gold @ $1279.00

AH news....BWLD UP 20.91%, NTRI Down 11.66%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE saw serious selling until mid day, then buyers looked @ VIX and saw no fear and started buying the dip. All indices erased majority of the losses by close. Market has been correcting for a while and most stocks were down from their highs. My logic of buying in pre market today was just that. There is never a perfect time to buy or sell, its all relative to where one enters and exit. They way we close, it is a very optimistic scenario, with VIX completely fading by close.

BLOG does NOT give buy or sell.

Saleem