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Financials downturn problematic for market

At 12 noon-  Market trading back down towards the lows of the day.. Tough to pin this on news of any sort. and as discussed,  many things were in place that suggested stocks could fall-  but SPECIFICALLY for today, we did hear rumors of a possible Gary Cohn resignation, and bond yields and stocks dropped before the rumor was denied.. and now the Barcelona incident .. but plenty with regards to both Technical reasons for concern as well as actual news as to why stocks might fall-  Breadth about 2/1 negative thus far >  Technology and Industrials have been the worst performing sectors thus far.. and ALL 11 sectors are negative with Real estate closest to positive-  Most of Europe slid further into the close from earlier minor weakness.. TRAN is one real source of weakness today that's having a detrimental effect on industrials but not as much selling out of IWM and MID as in days past-   Gold still higher by 0.50% while Crude has also turned back positive but Energy still hitting new lows, and despite oversold.. tough to buy just yet-   Overall, defensive stance still makes sense for Equities near-term as written about over the past few days-  2449.7 marked the lows of the last couple hours.. so UNDER this would drive selloff further into the close today  with important support near last Friday's lows at 2430 in S&P Futures-  For those that did NOT get the Weekly report detailing the top SHORTS to consider-  Please email me at  I will be doing a Conf Call today at 1pm to discuss the reasons for the recent stock market volatility-
 Dial-In (701) 801-1211, Access Code: 840-955-999-   And a Stock TWITS Q&A at 1:30 today-  Let me know if you have questions.  Thanks