The Internals in the NASDAQ have been declining and have now brought price to a very important support level. Today’s low in the QQQs tested that support and it held so far. Most concerning, as I have discussed through this week, is there is more and more selling volume in the NASDAQ with each passing day. My concern is, if the NASDAQ trades through that support level and the internals continue to weaken, its decline will weigh on the other Indices and that could lead to excessive selling in all of the Indices. This has some similar characteristics as the 2000 sell off. Next week could be a very important week. While the higher probability is always for rotation back up, the weak internals give cause for concern. A break of today’s low with the internals continuing to weaken will suggest the potential for a greater degree time and price decline.