Charting the market (5/11/2011)

Market is sold off today lead by commodities.

After hour, they raised margin requirement for gasoline. Looks like there are quite a bit room for these commodity to fall (they will bring commodity related shares with them).

Multinational stocks are also hurt because of uptick $.

This is 2nd time market tests the break out. Failed break out usually causes big down turn. We need to be careful about further sell offs.

Defensive names are holding well today such as utility, health care, some techs, etc.

CSCO's number is ok. The way they talk in CC is terrible. So the play is over.

Hopefully market can hold this level.