Fear Continues
The fear and panic that gripped the market late yesterday hit again this morning. In the late morning, S&Ps are at 1129. On the downside, we’d have to dip below 1125 for the selling to intensify again. Overall, this market has a weak tone below 1137.50.
At the moment, the sidelines may be the best place to be until the mid-afternoon.
Nasdaq touched new lows earlier at 1407 and is now trading at 1415. A quiet, mid-day market after a wave of selling this morning.