{+++} It was another slop-fest today. I looked at about five hundred charts so far (probably half way done) and many are starting to breakdown. None breaking down that badly, but definitely correcting.
Stocks like TWTR, FSLR and CELG got hit by downgrades today and generally speaking the action was bad as the sellers were around all day. SCTY caught a big upgrade from Goldman and the stock popped. The 21 day moving average for the SPX is around 1812. We”ll see if that level needs to be tested before we see any substantive bounce.
Here were some nice dollar bouncers today.
Here were some dollar losers today.
Keep your eyes on YNDX tomorrow (mentioned in last night’s post). It acted well today in a lousy market.
Hope to see you all in the trading room in the morning.