Many stocks today continued on their downward trends. Even the leaders were struggling to stay up. Remember that market corrections are great. It creates new chart patterns and sets up great opportunities. Just be patient on stocks and let the chart setup. Sometimes its best to set aside, stay in cash, and go play some tennis, golf, or snow mobiling. Here are some charts that caught my eye.
The Dow 30 pushed against the 200 day moving average and dropped down heavy another -121 points. It almost seemed as if the market needed an excuse to sell off after the presidential election.
S&P500 (SPX) broke the 200 day today as well.