Both SPX and NDX are down, on the other hand, you can see from the picture that some sectors are and that about 250 stocks are positive on the day.
Of course, the NDX is almost -3% on the day but the question here. Is this the start of a larger drop or just rebalancing? Cash is moving away from high beta tech stocks and entering into energy today.
I will continue to monitor and share my view. The option system is flat, I do not have much exposure and the Market Timers on the Indexes are Long and underwater.