I attribute, most of the last 24-hour selling, to market rotation. RUT was doing much better than NQ this morning when it was trading at -1.5%.
There have been plenty of intra-day trading opportunities. On the other hand, the market will not trade both ways. It will trade Up or Down and Bulls need to realize that the last key high was a month ago. The week ending on June 5 and June 12.
Banking earnings will be key to modify my long term view on this market. If banks are not making enough money to get greedy, I will carry that information forward.
