Never before in the history of the markets have they experienced so much daily volatility based upon social media. One Trump Tweet (TT) is all it takes to start a rally or a washout.
This morning the market was up over 225 points but it could not hold with the Dow ending165 points in the red (-.68%) and ending the day below their 200-day moving average.
The S&P 500 fell 23 points (-0.86%). It ended the day below its 50-day average. A 2.4% drop in semis helped make technology the day's biggest loser (1.3%). Nine out of eleven sectors lost ground today. The only winners were energy and utilities. We ended a traditionally bearish period on Monday but markets remained bearish. Continued trade threats have spiked the VIX.