The market watch all broke their consolidation lows today. The SPY, QQQ and DIA broke their 3 day low and the IWM broke their prior day low which was a flagging low.
All 4 have reasons to we can point to for support but the pivot stack and momentum is down so unless they trade over R1 the bias will be negative.
Longs:
TLT
GOOG
FTI
CELG
YUM
V
Shorts
The shorts are hard to sell on weakness as many seem oversold. Each stock on the list has a similar pattern of breaking a significant daily level of support which could lead to a significant decline if the momentum continues. And, a rally has significant resistance and should not exceed R1 so OR Reversals below R1 are worth considering especially if the overall market is strong.
FLR
WHR
GS
CLF
SLB
