Today on the Marketbeat: The Comatosed Iguana returns

Market #'s @ Closing Bell:

S&P: -28
DOW: -200
NASDAQ: -53
Rus2K: -17
TSX/S&P: -433
$VIX: +2.96


Internals:

Core Sector List: 15/1

- NYSE -
BREADTH: 14/1
AD LINE: -2300

- NASDAQ -
BREADTH: 8.2/1
AD LINE: -1800

Today on the Marketbeat: The Comatosed Iguana returns

A strongly bearish open in Monday's trading, 915 on the S&P has been lost with strength and volume to back it, now investors will watch 880 on the S&P. With a loss of over 3% on the major exchanges, combined with other important technical levels shed the next important level to watch over the course of this week is 880 on the S&P. If that level is shed then the market could be in a free fall mode after this springs bear market rally. Everyone that was late to the bull rally will be at a point where they are all now in the wrong and will help push the market lower as they cover.

Of course, the market could always rebound - we must always be aware of the possibility of the market doing multiple things. But with the late day sell off adding to the bearish levels if anything it could just be a Comatosed Iguana bounce... Bottom line watch the internals to make sure your on the right side of the trade.

Happy Trading...