Market Weakens Further

Market Comments: The selloff that started at the open has continued, with most indexes off more than 1%. The NDX and RUT (small-caps) are down -1.7%, while the SOX is off more than 2%. I don't have any positive sectors on my screen.

The COMP has broken further below its 50-day moving average, so that support is broken. And intraday measures of investor anxiety (put/calls, volatility indexes) dont' seem to be running at high enough levels to stem the tide.

We'll have to see if the market once again gets "saved" into the close.

Also, I want to give a shoutout to boxer Floyd Patterson, who passed away at age 71. Patterson once said, "They said I was the fighter who got knocked down the most, but I also got up the most." I think that's an appropriate statement for investors as well.