7/14 - bearish (sell stop)

• close at lows yet again, 4th day in a row now!
  
• higher futures led to even open but in the end only the featured stocks (jpm, cop) that were in the news made a good gain
• fell out of small 30min consolidation range, bearish
• supposedly, market fell because of bernanke comments hinting that qe3 is not going to happen
• afterhours 10%+ gain in google as it reports very very good earnings...knocks the ball off its cover!
• have a feeling tomorrow we will again have strong futures based on earnings and other news, but in the end, only the stocks in the news get strong move....

market now has a strong pullback...SPX at 50%, DIA and QQQ at 38% and XLF > 61%, IWM >38%...if bullish, feel its ready to buy back and normalize this correction...if bearish, i would look at the weakness of the market after good news and strong earnings...so in my opinion, its still bearish until proven otherwise...and that means atleast 1 day where we can close near the highs and not have a strong late day selloff...