Broad Based Selloff

The market sold off hard today on news that the White House forced out CEO Rick Wagoner. Decliners to Advancers was 5-1, and Downvolume was up substantially. I pointed out last week that Advancers and Upvolume have been weakening. Looking at that chart today does not make me want to own stocks. I think this is the end of the recent counter trend rally.

S&P 500- Advancer and Upvolume
We broke the recent uptrend and the 5 day moving average. I think it's possible we could rally back towards the 5 DMA, but we will probably fail there. That would be a good place to try to get short.

S&P 500- 60 Minute
The Dow has been weak relative to the other major indicies. I shorted the Dow today via a long position in the DOG. The Dow failed to rally back above it's January lows, while the QQQQ, SPY, and IWM all managed to at least penetrate those levels.

DIA