Market Recap For 8/12/2015

After yesterday selloff, the SP500 crashed through the 2063.52 support level at today’s open. It was down as much as 31.98 points when it’d reached the low of the day at 2052.09 during the first hour of trading. After the first hour, the market started to firm up and attempted to reverse direction. The market breadth chart highlighted how the U/DVOL and the A/D started to reverse direction around 12:00 pm EST, and how strongly these breadth indicators were at the end of the session. At the close, the UVOL moved ahead of the DVOL, and the A/D in the NYSE went from 1700+ more decliners than advancer to only 42 more decliners than advancers. In the Nasdaq, the number of decliners over the advancers went from more than 1600 to less than 400. In addition, the TICK at both exchanges was mostly positive throughout the session and with multiple instances where it was above 1000 in the NYSE, showing strong buy program activities.