Big sell-off today. Take a look at some charts that I find interesting and perhaps telling.
Double-top on the Russell2000 (confirmation looks to be a close below Oct. 2's closing price).
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Nasdaq Composite index approaching a long-term trendline, with the most recent high being on lower momentum.
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I mentioned in a previous post the potential importance of 10,000 on the DJIA as a pivot level. Today, however, we sliced right through it:
GS broke down from a long-term trendline, while it approaches both the 50-MA and an intermediate term trendline.
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While
XLF broke out of the trendline. It did so once before and snapped back, but be on guard.
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