The Dow Jones Industrial Average carried the day with the S&P 500 flat. The bulk of the carnage was in the recent technology high fliers and the smaller cap momentum names. Some may argue it’s a healthy pull back in the high fliers, but we may fall further if the selling spill over to other sectors. IBM and Intel earnings tomorrow may give us a clue and keep in mind that option expiration week will often have sharp moves and wild reversals.
