Futures Point to a Lower Open and a Break of the Low of the High Day...

ES and NQ futures are lower with a little more tha an hour before the open.  AAPL, AKAM, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM are all lower in pre-market trading.

The EUR is down 160 pips, bonds are up, TLT is up 46 cents this morning.  Global economic woes and signs of a slowing economy in China provided the catalyst for selling in Asia and Europe overnight.

As we said yesterday, exit bullish trades according to your rules as it looks like many stocks will break the low of the high day if they did not already do so.

Also if you have longer term options, selling an option against an existing position is a potential strategy that a trader can employ at this time.

Enter bearish trades according to your rules.