Markets sold off hard today. Lots of bad news over the weekend with Japan's GDP tanking and Switzerland borderline insolvency among the top items. Obama signed the new stimulus bill into action today and the market sold off to it's lows after that.
Indicators are all down. It was a 90% down day, the McLellan Summation turned down. The S&P, DJ30 and NASDAQ all undercut the recent lows which will surely put the status back to Market in Correction.
I stayed out the entire day as a spectator. I was traveling back from Miami when the market opened and most of the damage had been done in the first couple of hours.
BWP, SYNA, SY & DMND look like a possible longs if the market bounces. QSII might be a good short, but it's part of the IBD 100. ASEI looks like another possible short.
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