Ugly

Sort of an ugly session today. One of the interesting points (at least I think so) I noted in today's blog is how the QQQQ was rejected at resistance while the SPY is holding at support. Seems like two events that can not persist. It is also interesting that there appeared to be no resistance from the bulls. This is all on top of the Cisco numbers that did nothing to help the market...Seems like catalysts for the upside continue to wane...