TICK season
Soon after the open on Tuesday, stocks suffered the worst bout of concentrated selling pressure in history. On Wednesday afternoon, more sell programs hit. There haven't been too many times in the past 30+ years when more than half of the securities trading on the NYSE downtick at the same time. It didn't mean too much in the short-term (which we'd put more weight on given that it's a short-term indicator), but there were no losses over the next 6-12 months.

