Today on the Marketbeat: The Bears are back in town

Market #'s @ Closing Bell:

S&P: -29

DOW: -241

NASDAQ: -56 

RUS2K: -18

TSX/S&P: -260

VIX: +5.81 to 46.24

- Internals -

Core Sector List: 16/0 To the bears

NYSE

BREADTH: 29/1 Bears

AD LINE: -2400

NASDAQ

BREADTH: 12/1 Bears 

AD LINE: -1770

Today on the Marketbeat: The Bears are back in town

Today's action could be considered a trend changing day, as we wash out the gains we produced last week on all major indices. However, this doesn't mean today's action is game changing day. So don't load up on shorts just because the market dropped down close to 300 points on the Dow Jones. In a short term trading view, (Swing Trading), the market broke out of the range we had produced which was pretty much looked at to happen as we traded in a small range for the beginning of this week. What can we expect, possibly a short period of consolidation, with maybe climbing slightly higher in the next couple of days. 

Under the hood the market painted the perfect bearish picture. Both Breadths closed near their lows and the AD LINE tacked on a 2500 tick loss, which is fairly huge in retrospect, whenever we break that 2000 tick line either on the short or long side. The Core sector list rounded out the internals with a one sided showing, closing @ 16/0 to the bears. 

Here's some Short & Long ideas for Thursday Trading day:

Short: AVB / ESS / BXP / IYR / PNRA / DLTR: H&S developing watch trendline break

Long: RWT / MRO / JRCC / FTO / AGN/ AUXL / BMY / ESI: flag developing / ELN / OCR / SNY / RMD / EW / HOC / SFL 

Unusual Options Activity: CAG:March 37.5 calls / JPM: Jan 09 calls /