This is a market that looks like it’s ready to continue the overall downturn, but keep in mind that even in the worst bear markets, there will be the occasional massive shift higher.
The NASDAQ 100 has fallen a bit during the trading session on Tuesday to break well below the 12,500 level. At this point, the market then fell to the 12,300 level. There is a little bit of support in this area, but quite frankly it’s very minor, to say the least. I think it’s probably only a matter of time before you break down below there and go looking to the 12,000 handle.