Bear\'s Revenge

There is not much to say ... bears in control all day and selling is across all sectors. Almost all sectors dropped below 5ma and only a few still holds above 10ma. The volume was average except gold and energy sectors. This big down day put SPX near .50 fibo of recently rally. One thing to note is that all support are just "potential" support and can only be found after the fact. Trade at least with the short-term trend, and only use small option money to bottom fish if you have the urge. QQQQ left another gap around 45, is this a measurement gap? If so, we are destined to below 40.

IBD big volume up day: TDG
Naz/Dow big volume up day: WYNN

For Tweezers Candle bottoms, see
http://www.streetauthority.com/terms/t/tweezerscandles.asp