Stocks might have caught a break today if it weren’t for a disastrous CrowdStrike snafu that took down systems almost across the world.
For the moment, though, the selling is still fairly concentrated in CRWD and a few other names out there. The bears are still making choppy, cyclical moves.
The advance/decline line, which looked really good during the tech selloff earlier this week, and which I was worried might start to display correlation, still hasn’t done that.
Volatility futures are up, but they’re not really rockin’ yet. Exits have been small and trade has been pretty orderly.
But will it stay that way? Here’s what I see happening out there…