Markets Fall Lower, Find Some Support...At Least for Now

The major indices have fallen to lower levels and are rallying and again forming hammer like patterns on the DJIA, SPX and RUT. There is a small body large shadow spinning top on the Nasdaq Composite. The Nasdaq and RUT are still well above their lows of January and March and are falling into that support zone. The DJIA has fallen to a new 52-week low today and the SPX is at the area of its 52-week low in March. The trend is still down and until more trend revesal technical signals form on the chart, rallies are potential entry points into the down trend. Oil is still up $1.95 at 141.95 Mid-Tuesday Action Moving Up: AAPL, CELG, RIMM, USO STRA Moving Down: POT, X, MOS, FSLR, CLF, DECK, MA, AGU, DRYS, BIDU, MON, CF, NUE, BTU, MEE, ANR, IPI, CNX, SCHN, PCLN, MTL, AMZN, NKE, GS, V, GRMN, BRCM