With the recent gains without much correction, today's news from China's market down fall is just afterburner for the US to collapse. The Nasdaq is currently down almost 3%, DOW and NYSE is down over 2%. All exchanges experienced higher selling volumes. Nasdaq and NYSE both on track to break its 50-day moving average for the first in many weeks. Decliner is overwhelming the advancers by the margin of 8-to-1 on NYSE and 5-to-1 on Nasdaq. Probably this is the first phrase of correction coming. Most of the strong stocks are tanking without any reasons. This is due to the fact valuation is a concern for many traders now. I would stay on the sideline for now. No buying is recommended now.
Decliners: (To see how bad the market is, mostly are China related or alternate energy)
(FSTR)
(CEA)
(SHFL)
(USAP)
(TSL)
(HMIN)
(YZC)
(FTEK)
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