A Few Thoughts on Wednesday’s Market: In looking at the charts from yesterday’s trading activity I was struck by the apparent breakdown and weakness in the vast majority of the charts I looked at. While there is a good possibility several of these indices could bounce from these levels, another couple of down days will break the upward trend that has been in place since early summer and signal the start of a new downward trend. The charts of the various sector indices I track can be grouped into 3 basic categories. The 1st being the capitalization weighted tech indices that are very heavily weighted with Apple, Inc. ‘AAPL’. Due to the excessive weighting of Apple within these indices as Apple has moved lower, these indices have been dragged lower at a sharp paces. Basically a kind of “Live by the Sword, Die by the Sword” situation.

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