Bulls are licking their wounds following yesterday's losses. One of the few picks on the day, FFIV, has managed to break resistance of a recent consolidation. F5 Networks, Inc. provides application traffic management products worldwide. The company develops, manufactures, and sells products and services to help companies manage their Internet traffic.

A mixed bag preformance; the majority of the trades were profitable but the average return was flat. Maximum gains outperformed market max gains although PTY failed in this regard too.

Not 100% on this one, but keeps popping up on my Base Breakout scan. It did make a solid test of support and broke declining resistance, but it is not in the clear yet and today's market is not cause for optimism if you are a bull.

Failed to hold support at any of the moving averages and looks destined to retest October lows. A crumbling market doesn't help.

Came across this site the ELLIOT WAVE lives on over the weekend. The following is directly quoted from Tony's most recent post. I don't have his optimism but its an opinion worth presenting. LONG TERM: BULLISH We continue to maintain that the bull market from the October 2002 continues. Four primary waves have been completed and we are in a subdividing fifth wave. Major wave 1 completed early this year, and its correction wave 2, completed in late April. The advance into the early August highs was intermediate wave i of major wave 3, and its correction into the October lows wave ii. Major wave 3 is subdividing! Currently we are in intermediate wave iii, of major wave 3, of primary wave V. This implies: upon completion of this intermediate term advance ending wave iii, a correctional wave iv should then occur prior to another intermediate term advance to end major wave 3. Then a correction of this entire wave 3 will then occur, only to be followed by another intermediate term a

The weakness which first appeared in the Russell 2000 spread to both the tech indices [ NASDAQ and NASDAQ 100 ] as each lost their respective 20-day MAs. Options expiration will have disguised the importance (if any) of Friday's heavy volume, but going on the QQQQ s, this volume was light. All is not lost for the tech markets; the semiconductor index is bumping along resistance but is above its 20-day MA, as the $BPCOMPQ gained. The strength in latter indicator runs contrary to the $NASI and $NAA50 which sit firmly in the bear camp. Intermediate term traders will likely have bailed on Friday's action, but long term holders could wait for confirmation of weakness in the $BPCOMPQ which so far has indicated little. Large caps were more mixed as breakouts from earlier during the week held into Friday, but the Dow has put in a sequence of two gravestone dojis (confirmation will come on a close below the lowest of the two days lows) and the S&P remained bound by 1,275

This was from my ADVFN.com contribution: I had commented pre-market how indicators such as the NASDAQ Summation index, and NASDAQ stocks over their 50-day MA, had flipped negative even though the parent index changed little on the day. I had also said in my Wednesday commentary: One indicator I have not mentioned too much about is the $SPXA50 (number of S&P stocks over their 50-day MA)...... It currently sits at 445 which has exceeded its prior high of 421 from July. When the indicator hit its July high the S&P topped just over a month later." There are two things you can take from an indicator which stated 89% of the S&P composite stocks were bullish: [1] It takes a long time to turn a ship - an actual top in the S&P does not immediately follow a top in this indicator (as was the case earlier this year); stocks don't collapse through their 50-day MAs all at the same time, its a gradual decay as fewer and fewer stocks carry the index on their shoulders. Net ef