The stock market indices got creamed today following the elections last night. They had big gaps down at the opening, and very, very sharp sell-offs into late morning when they reached their session lows just above 2600 on the NDX and near 1388 on the S&P 500. That breakdown, below 1403 S&P 500, was a key break that could lead to much lower levels . We are very concerned. They did rally back in stair-step fashion in a 5-wave rally that took the NDX from 2602 to 2629. The S&P 500 at that point had rallied from the morning lows at around 1388 to 1403 roughly. In the last half hour they rolled over hard into the close and closed with massive losses. Net on the day, the Dow was down 312.95 at 12,932.73, about 50 points off the low. The S&P 500 was down 33.86 at 1394.53, a definitive breakdown today. That was about 6 points off its low. The Nasdaq 100 was down 68.36 to 2612.69, a 2 1/2-3% loss today, and about 10 points off its low. Read More on MPTrader