Off the Charts

The market is becoming increasingly erratic at upper levels as today the S&P erased the gains from yesterday's bounce. Today's sell-off came on heavy volume, another potential clue that the long-awaited correction could finally be here. The Nasdaq was hit the hardest, closing down 1.84% due to major weakness in sector heavyweight Apple (AAPL). The S&P fell 1.43%, piercing below Monday's low, and the Dow slipped 0.94%.

All sectors closed the day in the red. Apple closed the day down 5.5% after a very concerning pre-announcement from chip supplier Cirrus Logic (CRUS), which itself shed .69%. The Basic Materials sector was the weakest as a whole today, and is now the only sector that is negative on the year....491 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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