We finished near the highs but the recent range broke to the down side. Apple struggled again before earnings tomorrow but also closed well off the low. From a technical standpoint, we are in a dangerous position and we could possibly probe the 1350 to 1330 on the S&P 500. NASDAQ also breached its 50 day moving average today which is worrisome since technology stock had led our recent rallies. If we sell off further with some pick up in put buying, it would set up a good buying opportunity.