I was a day early but my distribution thesis got some support today. They let out some air from the high-flying NDX stocks. Need to see if the high P/E Nasdaq stocks experienced a "normal" pullback to consolidate recent gains or if today's rout was the start of something bigger such as an IT top. And boy oh boy, are those European indices weak or what ! If China cracks too, the bull is over. Chinese stocks showed signs of cracking today, bears watching.
VIX up 6%, S&P up 10 points
10 replies to this topic