SPDR S&P Semiconductor ETF (XSD) -2.5%

The technology industry is taking a beating today and semiconductors are taking the brunt of the pain. Throughout May, XSD has volleyed between its 50- and 200-day moving average.

Top semiconductor firms are in the midst of battle with the EU over cartel charges filed against them.

ProShares UltraShort 20+ Year Treasury ETF (TBT) -2.0%

With the market still shaky, investors continue to seek out the safety of long term treasuries. This flight to safety is causing the double short ProShares product to take a hit.

Due to its use of derivatives I would advise against retail investors playing TBT or any leveraged or inverse ETF. This fund's day to day performance, however, is a good indicator of broad market sentiment.

All prices as of 2:15 PM EST

Don Dion is president and founder of Dion Money Management, a fee-based investment advisory firm to affluent individuals, families and nonprofit organizations, where he is responsible for setting investment policy, creating custom portfolios and overseeing the performance of client accounts. Founded in 1996 and based in Williamstown, Mass., Dion Money Management manages assets for clients in 49 states and 11 countries. Dion is a licensed attorney in Massachusetts and Maine and has more than 25 years' experience working in the financial markets, having founded and run two publicly traded companies before establishing Dion Money Management.

Dion also is publisher of the Fidelity Independent Adviser family of newsletters, which provides to a broad range of investors his commentary on the financial markets, with a specific emphasis on mutual funds and exchange-traded funds. With more than 100,000 subscribers in the U.S. and 29 other countries, Fidelity Independent Adviser publishes six monthly newsletters and three weekly newsletters. Its flagship publication, Fidelity Independent Adviser, has been published monthly for 11 years and reaches 40,000 subscribers.

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