Market wrap - 4:10PM

Wow! Did I just see what I thought I saw? TWO days down in a row???? CNBC is going to have the big one. How are they going to spin this? Not to worry, they will. Dow 8,504.67 -107.46 (-1.25%) S&P 500 911.97 -11.75 (-1.27%) Nasdaq 1,796.18 -20.20 (-1.11%) Gold 932 +5 +0.51% Oil 70.60 -0.15 -0.21% Today's leaders: Today's heatmap:

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Second day in a row the market was down. It sold off early, but came back in the afternoon, only to sell of at the end. As much as the CNBC cheerleaders tried to spin up the housing starts, when you drilled down into them, the were not all that impressive. The manufacturing number was on target, but still bad. Seven straight months of a decline in manufacturing. Many have expected a pullback. Even CNBC has spoke of it. What we need to watch now is where it goes from here. The volume is light, which is a bullish sign, even when the market falls. Technical resistance is a factor, as well as Quadruple Witching on Friday. Add in the reports, calendar events, and news, by the end of the week I think we can get a better read on where the market is headed. Happy trading.