Pretty straight-forward reaction to uncertainty in the Gulf, further showing the fragility of our markets as we remain oil-based.
Oil popped hard on the situation:
Which led to a gap down and further push lower (despite some recovery in the European markets before the US opened). NDX lost 70 on 2.2 billion NASDAQ shares and had 1940 more decliners than advancers:
S&P lost 28. Note the uptrend line, which I have repeatedly said, “Let me know when this cracks, that’s the line that matters in terms of the market rolling”:
SOX lost 19:
NBI lost 19:
And gold is perking up as well: