•Stocks declined heavy again with major indexes down at least 3.2% each today.
•SP 500 $SPX $SPY support/resistance moved down from 1,165 to 1,128 and 1,173 to 1,150.
•Nasdaq Composite $COMPX $QQQ support moved lower from 2,531 to 2,381 and resistance moved lower from 2,549 to 2,468.
•SP 500 and Nasdaq Composite are now both below their moving averages (21, 50, 200).
•SP 500 intra-day traded below its August closing low of 1,119 but closed above it.
•Nasdaq Composite is holding up better and did not test its August lows.
•Nasdaq Composite $COMPX $QQQ has an open gap down up to 2,537.
•All sectors declined on heavy volume except for energy $XLE which declined on moderate above average volume.
•There were no safe havens from a sector perspective as even utilities $XLU and consumer staples $XLP (the defensive sectors) sold off.
•US Dollar ETF $UUP was higher again on heavy volume as well as bonds $TLT. These were the only securities that saw buying today.
•Silver $SLV and oil $USO declined 9.4% and 5.4% on heavy volume.
•Gold $GLD lost 2.6% on moderately heavier volume.
•$BIDU was down 11% on heavy volume as well as $NTES and $APPL down 7.3% and 2.5%, respectively.
•All other stocks I follow fell on moderately heavier volume led by $SLW and $EDU down 12.8% and 7.4%.
•Many stocks I follow created gap downs so over time yesterday's closing lows in these stocks will be levels they will need to fill.
•Based on stocks I follow the stock market direction is bearish and has been active 1 trading session after being neutral for 1 session.
•The stock market direction has been bearish in two out of the last three trading sessions with the odd session being neutral.

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