Problem is we have two key sectors that have been drivers behind this rally and that are now in trouble. $SOX/SMH and $RUT/IWM. If these two key sectors don't start to show some strength, and soon, then their weakness is likely to bleed over into other sectors. For the $SOX there is now a cross of the lines on Wilder's and a close below 497.30 before a cross of the lines would confirm a 'sell' on this key index. IWM is following close behind.
We'll need a nice big phat bounce Wednesday and Thursday to undo some of the damage these two sectors have suffered over the last several days.
All IMHO, of course.