The current correction has tightened its grip on equities once more, and further near-term downside appears likely. Season risk to taste. It's worth noting that -- for all the gloomy commentary -- various intermediate indicators still remain positive, and the NASDAQ is outperforming the more financial- and manufacturing-rich NYSE indexes. How long this lasts is another thing altogether, as the market has resumed its hyper-sensitivity towards negative news.
In lieu of a more detailed post, The dk Report Charts have been updated. I'll write again when I can, and until then the charts will stay current.
Good luck trading.
dk
As as odd as it may seem, some are surprised at $4 gasoline.