SPY - no support
COMPQ - broke support
NDX - barely under support
RKH - failure at resistance
USO - bearish
VIX - bearish SPX
A/D
ETFs - financials not the culprit today
Analysis: Weird to see the cause and effect of today's action...a rally from supposed financial good news which gaps us higher...then a strong selloff in every sector led by tech and materials...and finally after a silent midday, we drift strongly lower to end right at the lows of the day...had moments for bulls to try to gain support from definitely didn't see much buying...a whole lot of selling from any profit holders it seemed was the theme of the day...support broken on all indexes now...biggest surprise was just how strong NASDAQ sold off today as other indexes were holding on ok...must have scared all those hiding in the "stronger sectors"...just as surprising was the strength in some financial names as the market sold off. i remain bearish as the only thing that can turn stuff around in the following few days is surprise announcements from the gov't...
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