Unless signals of the next QE-n are provided over the weekend, the frenzied 45 minutes of futures trading on Friday should set the tone for an ugly few days. If you didn’t see the recap, Dow futures showed a drop of over 100 points, the SPY was in the 1375 area. Even without this number ,the strength in retail continues to surprise, look at BBBY-a housing related retailer that has been on fire. As does old cyclical tech. Outside the i-products, what is the difference between PC tech and a household appliance, TV, Dishwasher, desktop, washing machine? You buy a new one when an old one breaks down.
I am not even going to attempt to look at technicals, the programs know the levels, are ready already and will play them better than you can! However, HERE is a link to pre-set scan on a bunch of technical statistics culled from StockCharts.com. After this deluge, I think energy and mining stocks should becoming interesting again, but not maintenant!