{+++}You could here the butcher chopping up stocks today as we witnessed a ridiculously whippy session. The S&P continues to look weak and we are watching for the 1060-1070 level to hold.
The only sector that exhibited any real strength today was technology, as coal, steel, real estate, agriculture, materials and financials all showed weakness.
Ag/fertilizer names look particularly weak and names like MOS, POT, MON and CF look vulnerable here.
The market is at an interesting juncture here as volume has left the building, half of Wall Street is on vacation and we have a three day weekend coming up. The all important jobs number is released on Friday too, so it wouldn’t surprise me to see some folks fold their tents early.
I added a few potential shorts to the watch list.
