The big names just don't want to break down. Remembering the DJIA is a price weighted index -- companies like IBM keep things well-propped. In the meantime, tech struggles over the past few days especially with the breakdown in "cloud" sectors. Commodity markets were hit hard on worries China's inflation situation will warrant more tightening. This, should it happen, is never friendly for commodity markets and precious metals as we posted earlier with GLD (SPDR Gold ETF). Economic data was mixed with better Jobless Claims and Housing data while the Philly Fed report was disappointing with current report and the previous report adjusted lower. Earnings continue to flow and most beat expectations handily once again reminding us of the ineptitude of most analysts. It's a hard job, but somebody has to do it at least making sure companies "beat" for the M&A goodwill. Through the first half of the day stocks stayed lower but crept higher abetted by more POMO and a recovery in some financial stocks. It may be very difficult for any meaningful sell-off or correction as long as Ben is printing. Volume improved significantly today which is typical on down days. Breadth, per the WSJ, was decidedly negative.