Apple sold off particularly hard....down 3% at one point. SPY spent most of the afternoon session down at S3 and the persistent negative TICK were a setup for another leg down ....but there was some recovery into the close although the technicals were awful. XLU continues to shine as our #1 position but, as pointed out this weekend, it is seriously overbought.
Look back to this weekend's post of the SPY VDX and the comment about the parallel and downslope VDI+ and VDI- over the past 2 days. If we ever see this pattern again we'll know to be very wary of any bullish prospects in the near term.
