Indices still struggling.....

Indices are are all below 50 DMA, not a sign of technical health.

We need to see a convincing close above 50 DMA in all indices to give a sigh of relief....

RSI picture is so so, here are few numbers :

Nasdaq   @ 42.40

S&P 500 @ 42.77

Dow        @ 43.11

SOX       @ 44.19

RUT       @ 45.33

As you can see that they are all in oversold territory.....

All the major high fliers were taken to support area, it did not matter IF it was AMZN, AAPL, GOOG, AAPL, LRCX, NVDA, MU

Some Chinese stocks were taken to below their old sup[port like BIDU, NTES

OLED has lost all its support lines.....

Based on all of the above, it is important to note this change in market psychology.

Every so often we have to deal with new set of issues market is facing, like White House staff turnover, Russian probe......

There is a new ray of hope in North Korea and South Korea situation, over the weekend, South Korean entertainers were in North on a goodwill tour, extremely positive.

US & North Korea also slated for a face to face with leaders of both countries.

Troubling part is that any good news rally does not last for more than 1 day, it fades very next day and lose all its gains from previous day.

It is extremely difficult / impossible to time any market, thus it is wise to stay in and wait for digestive process.

Good luck with your own take of this TAPE and your own comfort level.

BLOG does NOT give buy or sell.

Saleem