Breakdown

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All it took was a single economic data point:

And things started breaking down in a real hurry. Here is the Dow Jones Composite.

My principal focus, financials, really took it on the chin. Just look at the broker/dealer index ($XMI):

At this point, our main enemy is the S&P 500, which has still respected support. We need to break 2945 on the cash index to get things really started.