Inability of SPDR Gold Shares (GLD) to claw higher to fill today's gap-down in the hours immediately ahead will increase the likelihood of downside continuation.
Apple, Inc. (AAPL) stock fell about 6% (20 points) lower in after-hours trading. Today, traders will be focused on whether or not institutions step in to buy AAPL into weakness. If they don't, there could be a negative reaction spread to the broad market as well.
There are signs that the market is weakening. In the absence of a strengthening banking sector, the rally may be losing the fuel it needs to maintain its current advance.
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