As we all know it was ugly this afternoon . However some places however were uglier than other. Pharma, financials (especially regional banks), semis, retailers and restaurants were especially ugly.

While energy, Ag's, and other commodity plays and some tech were strong.

The sell off came late in the day and was quick and violent but I am not sure how much technical damage it actually did.

The bulls will say that all the major index's are still in up trends and above important moving averages. That the sell off was contained to certain sectors and caused by some bs analyst downgrade.

The bears will say despite AAPL's strength good numbers last night and a weak dollar the market did not have what it took to get through the gap. All it took was a bs analyst downgrade to panic weak longs, what if something bad really happened.

I feel like we are still in an uptrend until the major indexs and some important stocks start to give up those MA's. With that said breakout longs are going to be a lot tougher going forward.