--Gordon Gekko (Wall Street: Money Never Sleeps)
Two straight ugly days as the Dow lost nearly 900 pts. Breadth was quite negative. For the first time in a long time, every stock on my screen was red on the day.
Technical position of the indexes is interesting. Today's selloff resulted in the Dow breaking its uptrend line off the Dec 2018 lows:
The SPX has fallen to its uptrend line but remains unbroken:
The COMP is still far above its trend line:
Because its last leg higher was driven by lots of momentum plays, the Nasdaq requires more ugly just to catch its uptrend line.
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