Stocks Fall On European Concerns

The stock market was down today and now after the fact the news services are all reporting it has to do with European concerns. Well if you've read my blog the past few days you would know that I was bearish before this drop and the tip-off was that the European ETFs were showing weakness as our market rallied.

I've pointed out repeatedly that EWP and EWI  for example were slowly moving lower as our S&P was going higher. Some of the weakest markets today were in fact EWP down 5.79%, EWI down 4.96% and EWQ down 4.30%.

Notice today's volume has increased which is another indication that stocks appear to be in trouble. Earlier in the week when the stock market was moving higher, it did so on declining volume which was another indication that lower prices were about to come our way.