Engulfed

What is with this crazy market? Don't get me wrong; a triple-digit down day on the Dow is terrific. But this market is heading for the nut house.

Over the past trading week, there have been two instances of big bearish engulfing patterns on the $NDX. Today's was a whopper. Having a superstar like EBAY up in the double digits at the open and yet have a wipe-out like this is really encouraging.


The $SPX bounced off that resistance line beautifully. The market still has no direction, though. It's neither bullish nor bearish. Just schizo.


The rest are straight-up short ideas. AMX:


AutoZone (AZO), still in the stratosphere:


Carnival Cruise Lines (CCL), approaching resistance:


Black and Decker (BDK):


Goldman Sachs (GS), finally getting a reversal:


LLL:


NutriSystem (NTRI), with its cup and handle pattern failing:


RTI:


Sears Holding (SHLD), also weakening:


Now for your occasional clip of the day! The world's worst weatherman. Brace yourselves.