Market Shapping up Ugly

It could be options games that is causing the tech weakness here, but there are some real reasons why the bearish case is looking more and more valid. Not the least of which is the fact that the old dinosaur the Dow broke out, which indicates that smart money is running for the safety of the big caps. Add to that the severely lagging tech sector and an inverted yeild curve and caution shows up as the most prudent course of action to take in this market. We have been sidelined over the past week as scans have turned up very thin even as indices were showing strength. Tonight we are going to be scouring for short hedges.