Elevator Shaft

Al Powell: What was that?
John McClane: Remember that plastic explosive I told you about? There you go. Is the building on fire?
Al Powell: No, but it's gonna need a paint job and a shitload of screen doors.
--Die Hard

Domestic equity markets getting the shaft, as in elevator shaft, out of the gate today. Down over 500 pts early, the Dow is now testing its late October lows.

The Nasdaq has already broken thru those lows.

This is in synch with the principle that bear markets in their earlier stages tag the racier markets harder than the stalwarts.

The stalwarts are starting to catch up though.

no positions