Speaking of nasty the breach of the 50-day is a sign of serious weakness. As MoneyBeat points out it has acted as support twice this month and five times Since Dec. 2012 :
From ZeroHedge:
"Taper On" Triggers Hindenburg Omen And "Risk Off"
Where's the buy-the-dip mentality? Yesterday's collapse triggered yet another Hindenburg Omen - the 7th in the last month) and it appears it is the equity market's turn for some pain as Treasuries (which initially weak) have stabilized 2-3bps higher in yield. The Dow has lost 15,000 and is down over 200 points today; the S&P 500 is testing back to its 1,600 level; but homebuilders are being battered (as clearly good is now officially bad). The S&P 500 is now the furthest below its 50DMA in 2013 - this is key as it has been critical support all the way up. Gold and Silver have been crushed (and copper and oil are following) this week so far and the USD is up 1.75% so far. Credit markets are being destroyed - investment grade spreads are 10bps wider to 90bps from FOMC.
Yesterday triggered the 7th Hindenburg Omen in a month...
The S&P 500 is now the most below its 50DMA for the year...
S&P Sectors...
...MORE
