Breadth was terrible, with all major sectors down and the Dow Jones is almost exactly flat for the year after a strong start. Oil was down over 11% after a surprise rise in inventories took traders by surprise. With the market so overbought in the short term and bad news by Alcoa and Intel, there was not any interest for buyers to step in and start buying. We saw an all day down day. The index put/call ratio went below 1 yesterday and rarely can a rally can continue its up move when that ratio drops below 1.We will need to see if buyers are willing to step in and start buying the dips as we try to hold supports.