The stock market indices had another very bad session. They gapped down huge on problems with Spain being downgraded, bounced, and then made lower lows before rallying midday. At that point, they pulled back sharply to retest and bounced, the S&P 500 making new highs for the snapback rally, but the Nasdaq 100 unable to confirm. They rolled over hard into the close to close down sharply. Net on the day, the Dow was down 243.36 at 13,102.53, only 19 points off the low. The S&P 500 was down 20.71 at 1413.11, 6 points off the low. The Nasdaq 100 fell 28.54 at 2666.02, 8 points off its low. Advance-declines were nearly 3 to 1 negative, with 811 up and 2212 down, on the New York Stock Exchange, and about 2 to 1 negative on Nasdaq. Up/down volume was nearly 7 to 1 negative, with 78 million up and 588 million down on New York. Nasdaq traded over 1.8 billion, and had little less than a 2 to 1 negative volume ratio. TheTechTrader.com board was led down by Apple Inc. (AAPL). It dropped 20.67 to 613.36 despite rallying earlier on the introduction of the new mini iPad, up as high as 634.00 at one point in the day. Google Inc. (GOOG) managed to gain 1.68 to 680.35, closing 8 points off its low and 7 points off its high, and Amazon.com Inc. (AMZN) was up .53 to 234.31. Other gainers of note included lower-priced stocks. BSD Medical Corp. (BSDM) was up 31 cents to 2.00, or 18%, on 2.7 million shares. ARM Holdings plc (ARMH) jumped 3.07 to 31.19, or 11%, on 9.2 million shares on solid earnings. Pandora Media, Inc. (P) was up 76 cents to 9.86, Cynosure, Inc. (CYNO) gained 2.17 to 26.59, or 9%. Harley-Davidson, Inc. (HOG) up 3.36 to 46.89, Coach, Inc. (COH) 3.98 to 58.15, Power Integrations Inc. (POWI) 1.88 to 29.27, Computer Task Group Inc. (CTGX) 1.13 to 18.06, and Ryder System, Inc. (R) 2.39 to 45.82. In addition, Guidewire Software, Inc. (GWRE) ran 1.18 to 29.94, BroadSoft, Inc. (BSFT) 1.47 to 36.21, Aegerion Pharmaceuticals, Inc. (AEGR) 1.06 to 20.45, and VirnetX Holding Corp (VHC) 1.65 to 29.72, and OSI Systems, Inc. (OSIS) 2.88 to 79.71. ProShares Ultra VIX Short-Term Futures ETF (UVXY) jumped 4.41 to 32.65, 15.6%, on 8.9 million shares. ProShares Ultra Long DJ-UBS Natural Gas (BOIL), which we traded today, gained 2.05 to 57.02. ProShares UltraShort Silver (ZSL) closed up 2.16 to 47.32. On the downside, International Business Machines Corp. (IBM) was down 3.15 to 191.25 and Goldman Sachs (GS) lost 3.77 to 119.00. A couple of the Boxer Shorts did well today. They included Monster Beverage Corporation (MNST), down 4.96 to 41.77, or 10%, on 19 million shares, and Autoliv, Inc. (ALV) down 6.55 to 57.07, or 10.3%, on 3.2 million shares. Other point-plus losers included Cliffs Natural Resources Inc. (CLF) down 1.44 to 43.55, BioMarin Pharmaceutical Inc. (BMRN) down 2.67 to 38.54, TRW Automotive Holdings Corp. (TRW) 2.67 to 38.54, and Mellanox Technologies, Ltd. (MLNX) 3.91 to 71.39. The Direxion Daily Financial Bull 3X Shares (FAS) lost 4.94 to 108.60 and the Direxion Daily Small Cap Bull 3X Shares (TNA) dropped 81 cents to 57.04. Direxion Daily Gold Miners Bull 3X Shrs (NUGT) was down 1.36 to 14.94. Silver Wheaton Corp. (SLW) lost 2.25 to 38.24. Stepping back and reviewing the hourly chart patterns, the indices were very volatile today. They were sharply lower at the opening, rallied sharply midday, mostly on Apple’s introduction to the mini iPad, rolled over, tested support, bounced, tested support and bounced again, only to back off into the close, closing negative on the session. The oscillators are now getting oversold. We’ll see how tomorrow goes. Good Trading! Harry