Indices closed down.
S&P 500 @ 2545.94, low 2530.54, high 2601.13
RSI @ 31.52
CMF @ -0.027
Internals were :
Down volume led by 6.56 to 1 in NYSE & 5.15 to 1 in Nasdaq
Declining stocks led by 5.55 to 1 in NYSE & 4.31 to 1 in Nasdaq
Net new 52 wk lows were leading by 1205 in NYSE & 729 in Nasdaq
VIX UP 13.36% @ 24.52
Oil @ $49.88
Gold @ $1251.80
AH news...ORCL UP 5.40%, MLNX Down 3.09%
GNC Down 3.07%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold Down
About market, TAPE was in control of bears who took S&P 500 to lowest close in over a year. Dow closed @ the lowest level since March 23rd, 2018, BUT there is good news technically speaking, there is NO DEATH CROSS in DOW. New 52 week lows reached their climax @ close net 1205 lows in NYSE is the highest I can recall in 5 decades. We may have seen " digestive phase of all known bad news already"
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
The $VIX is surprisingly quite a bit higher today. It probably doesn't bode well for close, but it sets us up for a very nice gain tomorrow if the Fed plays nice.
Stocktrader
Hi Stocktrader,
TAPE is definitely weak on deeply oversold condition.
Sold BZUN @ $32.30
Saleem
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