Tuesday Market Wrap

{+++} For the day the SPX/DOW were -0.85%, and the NDX/NAZ were -1.35%. Bonds gained 2 ticks, Crude added 15 cents, Gold slipped $3, and the USD was lower. Short term support slips to the 1841 and 1828 SPX levels.

We had an up day Monday and a hideously down day today, so if you are following the bouncing ball, maybe we will have an up day tomorrow.

It looks like those right shoulders are starting to validate on the QQQ and IWM which is a bearish sign.

FEYE and WFM had bad reports after the close and were punished. Many other stocks were taken to the wood chipper today. See NFLX, YELP and other tech/momentum names.

If the markets look heavy again tomorrow I may start shorts in some of the indices.

See you in the morning.


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