The S&P 500 turned negative for the year on Tuesday as the wrangling over the U.S. debt ceiling faded and investors turned their attention to the stalling economy.

The broad-based index fell for a seventh day and crashed through its key 200-day moving average in an ominous sign for markets. The seven days of losses mark the longest losing streak since October 2008.

Composite volume on the NYSE, the Amex and the Nasdaq reached 9.7 billion shares, well above this year's daily average of around 7.5 billion.

The Dow Jones industrial average .DJI dropped 265.87 points, or 2.19 percent, to 11,866.62. The Standard & Poor's 500 Index .SPX dropped 32.89 points, or 2.56 percent, to 1,254.05. The Nasdaq Composite Index .IXIC dropped 75.37 points, or 2.75 percent, to 2,669.24. (commentary & photo courtesy of Reuters)

A 2% drop in iShares MSCI Mexico Investable Mkt Idx (EWW) triggered a stop loss sell at the –1.0R level. We didn’t hold this position for very long; opened it on July 28th and sold today. Unless this market downdraft stops soon, more positions will hit their stops.

Catch you later.