SPX, COMPQ, INDU: Right on Schedule

Last update noted that the market had been "almost too orderly," so a break lower wouldn't be surprising to put The Fear into bulls.  Amusingly, both COMPQ and SPX did exactly that, while INDU held firm above its long-term line.

COMPQ dropped right into its noted support zone:

INDU hasn't even tried to scare bulls yet -- and maybe the other markets will be enough fear for them, we'll see:

SPX dropped a little lower, but it's still inside its noise zone for now:

In conclusion, INDU, SPX, and COMPQ are all still above long-term support.  INDU and COMPQ are brushing against it, but bears are going to need to sustain trade and closes below that support to make this look like anything more than noise.  If they can, then we'd have to pay more attention to the two-month-old "maybe this will turn into a complex flat" idea.  Trade safe.