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The Market And Many Key Stocks Hover On Key Support

|Includes: BAC, Goldman Sachs Group Inc. (GS), JPM, WFC

The market and key stocks like Goldman Sachs (NYSE:GS), JP Morgan (NYSE:JPM) and others are hovering on key support now on an intra day basis. This tells us the market is trying to put in a bottom for the day here. Watch as volume lightens up to see if the market is pushed slightly off the lows into the close. Anyway you cut it, this is an ugly down day.  The markets have sold on the back of earnings from IBM, BAC, WFC, MS as well as  the dollar ripping higher on the republican win in MA and some economic data this morning on Housing Starts and the Producer Price Index.  Each time any major earnings are released the market is getting slammed. The key is to follow the technicals to find out if the market is going higher tomorrow or lower.