The ES closed on the low of the day losing 23 handles. Price has penetrated the low of the current triangle but hasn’t yet followed through to confirm the break. The price action in the next 48 hours will set the tone for the next move.

The NQ futures lost 46 on the day but did yet to break any important technical levels. If the 200dma is lost then the price action from the last 5 weeks will turn into a nasty area of distribution and trap all the longs that got invested into the Q3 earnings season.

Multi sector daily chart, note the relative underperformance of the BTK:

The OSX was the top gun on the day and the only major sector to close in the green. Price attempted to break above the triangle but settled back within the pattern negating any real technical development.

The SOX outperformed the Naz and SP. Price remains trapped between the September high and the 50% fib.

The BTK is getting very close to the range low close.

The BKX was weaker than the broad market and settled just above the 50dma. This is very key support that needs to hold.

Gold was lower by 17 on the day:

Oil broke strongly above the 100 level and is now in the overbought area of the Gann box.