Indices closed down .55% to 1.01%....

Indices closed down.

S&P 500 @ 3093.20, low 3070.33, high 3094.97

RSI @ 57.31

CMF @ 0.362

Internals were :

Down volume led by 2.00 to 1 in NYSE & 1.31 to 1 in Nasdaq

Declining stocks led by 1.62 to 1 in NYSE & 1.65 to 1 in Nasdaq

Net new 52 wk lows were leading by 53 in NYSE & 25 in Nasdaq

VIX UP 7.04% @ 15.96

Oil @ $56.10

Gold @ $1484.40

AH news.....MRVL UP 3.14%, RAPT UP 11.74%

                    HQY UP 14.14%, IMMU Down 7.37%

AH Futures Down

AH Asian Markets Down

AH Oil UP

AH Gold Down

MRVL earnings report was a very good report given softness of orders in China, thanks to trade jitters. MRVL beat in Sales and EPS in line for Q 3, for Q4 MRVL is guiding way above Sales expectations, EPS 15 to 19 cents which will be revised upon close of an unit to NXPI, means It will be guided higher in EPS also....MRVL in AH was UP 3.14%....

About market, TAPE went through 3rd day of pullback to deal with overbought conditions, trade back and forth was just an excuse. Trade stalemate is now in 16th round with no end in sight, market has discounted and knows about few pitfalls of that indecision. Hoping that we get another trade driven positive trigger to bring us back to a green close, that is the way it goes.

BLOG does NOT give buy or sell.

Saleem