Indices closed down 3.78% to 4.60%.......

Indices closed down.

S&P 500 @ 2648.94, low 2638.17, high 2763.39

RSI @ 29.40

CMF @ 0.077

Internals were :

Down volume led by 30.30 to 1 in NYSE & 5.73 to 1 in Nasdaq

Declining stocks led by 8.66 to 1 in NYSE & 6.92 to 1 in Nasdaq

Net new 52 wk lows were leading by 463 in NYSE & 182 in Nasdaq

VIX UP 115.60% @ 37.32....high 38.80

Oil @ $64.15

Gold @ $1336.50

AH news...LULU Down 3.1%, CRUS Down 10.67%

AH futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE is in a frenzied freefall artfully managed by high frequency machines, looks like another day of blood bath coming on Tuesday. 50 DMA was taken out easily today, we could be looking @ 200 DMA as potential support now. VIX saw its biggest jump ever, 60 is VIX all time high back in 2008 / 2009 slump, who knows we may take that one out before it is over, mini support is in 45 area for VIX. RSI of 29.52 in Dow and 33.83 in Nasdaq could have been taken as deeply oversold, but in a HFT driven environment it may not matter. How to deal with current TAPE is a matter of your own strategy and comfort level, we all are different and have to interpret and act according to our own take of this slump.

BLOG does NOT give buy or sell.

Saleem