The emerging markets, which were yesterday's big winner became today's the biggest loser and the financials were also hard hit...not a good omen for a market bounceback.
On day's like today its often instructive to see which stocks and ETFs retain their strength and which ones are the first to reverse up when the market trend starts looking bullish.
Although SPY closed with bullish momentum via the TrendX be aware that swoons like today have a bad habit of retesting recent lows, usually within a day or two, so it's way too early to say the decline is over.
