Yikes

A mirror image...only smaller...that would be the best description for today's action as the major indices reversed a portion of yesterday's losses...Perhaps the most interesting aspect is the COMP/NDX can't pick themselves up off the mat.

In my blog today I noted that a number of the components of Dow Jones Industrial Average (nearly two-thirds) show poor readings on our internal scorecard system.

I posted that comment and then saw that the stocks with the weakest scores were some of the "bluest" of the blue chips.

Then you look around and see that big cap favorites from Wall Street such as WMT, MSFT, FNM, CSCO, JPM (to name a few) are creeping around their annual lows...

To which, my only reply is - yikes....