Usual Suspects

Last week these were  few of the industry groups that were looking bad and they have continued deteriorating. These are all 15 min. 3C charts.

 Financials-with a couple of false breakouts which increases the chances of a bonafide reversal.

 Again, even though the Russell 2k was in a leadership position today, we had the lowest 3C reading at a false upside breakout and new high.

 Industrials have been falling apart since Q1 ended

 Technology as I have explained before is very interest rate sensitive and the hawkish tone from regional Fed president's and governors over the last week must have spooked tech. Of course the deterioration started before last week's heavy Fed speeches, but remember the information curve that we are behind and the proof last week of at least two Fed leaks.

 HealthCare hasn't been doing great 3C-wise, distribution started a couple of weeks back, but has picked up intensively since Q1 ended as I suspected.

Consumer Discretionary was also featured last week as showing weakness, once again, the negative tone and character increased dramatically April 1st, the end of Q1.this is a leading negative divergence.

And since the Qtr. ended, we've had 3 sub -1100 tick readings, today's nearly 1200. We haven't seen readings like this for awhile and when we did, they weren't as common as having 3 in the last 3 days.