Well we finally got some decent selling. The most interesting thing I see is the Dow hovering just above 12,000. The bull-bear battle for control of that line should be a good one over the coming days. My guess is that it breaks — if for no other reason than to test everybody who just got long over the last week or so. Note that the indices all made at least 6-day lows today so anyone who bought the indices and many stocks the last 6 days are underwater. Will they run for the exits upon further weakness or double down???
Here are charts of the Dow, Nasdaq and S&P 500:
Looks like an interesting battle!