Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
While last Friday was a sharp drop (post Plan B failure) recall there was a late day rally to cut some of the losses; hence today’s session is actually much worse from an advance decline perspective. In fact you can see from the chart below it’s currently the worst session since the mid November bottom. While we still have three hours to go and that could change, from an anecdotal perspective today is the first day I am seeing serious damage to the charts that had held up since last Thursday even as the market suffered losses.
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Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund’s holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog
