In today's Traders Exclusive, George Tkaczuk provides his equity update amidst a new bout of market distribution. Last week we had three days of heavier volume selling, indicating some institutional distribution. The put/call ratio spiked above 1.15, which is a decent indicator of a potential short-term bottom. We also observed an inversion in the 3-month VIX, another confirming indicator. The Nasdaq broke through its initial support at 4,700, and 4,600 will be a key potential reversal level. For the S&P, the 2,000 level is a key technical and psychological level. The Nasdaq is showing relative strength to the other indexes. While this juncture does not provide an opportunity to buy heavily, it is an opportune time to set up a watchlist. Stocks with good earnings growth and relative strength are showing up in the same sectors highlighted in prior weeks. Of particular note is Acadia Healthcare (ACHC). The company is growing organically and through acquisitions. Technically, the stock was consolidating between the 38 and 54 levels earlier this year, and following a solid earnings report the stock broke out to the 65 level. Since then it has been basing around 60, and we are looking for a technical trigger to add long positions.