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Market Lab Report - A Crash by any other Name

The action in the NASDAQ Composite and NASDAQ 100 Indexes is off the charts in terms of its sudden, unexplainable character. Leading names across the board, from AAPL to BABA to FB, NFLX, NVDA, TTWO, and anything else you can think of are getting smashed. This is typical of how this market has from time to time "pulled the rug out" on investors, but today's selling strikes us as more ominous. It is also illustrative of why one must adhere to their selling guides. Most Focus List names have busted near-term support in the most bearish manner, with some trying to hold along their 50-dmas. The "explanation" for today's action is that this is a sector rotation out of tech and into financials. In our view, this is much worse, and we would hope that alert, rational investors have already taken steps to reduce their exposure by sticking to their selling guides. If the Dow turns red all hell could break loose, and ironically on a day following a very bullish day yesterday. This is the nature of the QE market.
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