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It is obvious this is a news driven market. If there is bad news on the potential flow of oil from the Middle East, Oil is up and Stocks are down. The opposite is true as well. Therefore, it is very difficult to analyze the markets based on what the news is. Typically, it changes daily. With that said, the Briefing outlines the percentage of stocks above their 20-day and 50-day moving averages. This shows an extreme deterioration of price for the majority of the market. If this holds and the news cycle does not change, there is much more downside ahead. Although, keep in mind that markets run and pause in all degrees of time.
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