GOOG had a negative effect on the Market as a whole today, with both oil and interest rates adding to the selling. While the Indices were lower today, it was a little surprising to not to seem them much lower. The Market internals continued to weaken but did not reach an extreme. This can allow for more follow-through tomorrow. It is habitual recently for the “buy the dip” buyers to come in at the open and try to drive price higher. If that happens, and the internals are strengthening, expect a rotation up. On the other hand, if today’s lows are broken and the internals are weaker than today, important support will be broken and selling will likely accelerate.
