From the TA point of view, why today is a big down day?
1. the EURO $XEU closed at 200EMA yesterday as a resistance. These days $XEU and $DAX are two primary indicator for the US equity. Euro news always create dramas.
2. $COMP closed a little above 200EMA yesterday. Usually the first touch is a fail.
3. the semiconductor $SOX closed right below 200EMA yesterday as a resistance.
4. $TNX 22.64 level act as a wall, which is 65EMA resistance. Yesterday $TNX looks like it was going to break out. But eventually had a 4.74 percent plunge down.
5. 13EMA of $NYAD closed at 800 yesterday, which is way too high. Last time it was at this level was on early July. The market had a five day down trend then.
Given the accumulation in the passed 15 days rally, I believe this rally still have a more leg up or retest Monday's high at least. The timing model is still in bullish teritory from Oct 7th, there is no need to adjust until the model gives sell signal.
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