There is a lot to look at today, it is quite a morning so far. In fairness to President Obama, the strong downward slide started at 7 AM EST-ish on the Draghi news about Germany's weak economy. The euro dropped like a stone, dollar up, and you know the rest. We see this asset relationship; euro down = dollar up = copper down = commodities down = oil down = equities down = Treasuries price up yield down. The semiconductors, SOX, dropped under 378.60 to join the bear camp. If you are bullish, you need the SOX to recover above 378.60 asap.RTH is holding up, however, now printing 44.50. Use the 44.40 as the new bull-bear line, Keystone's algo is constantly recalculating these numbers in real time. Of more import is financials today. They are tanking. Watch XLF 15.73, whoa, price is now at 15.74. Bad things will happen if the XLF 15.73 fails. VIX is 18.17. The SPX is now at 1400 breaking thru the critical 1403 support level. The 8 MA is about to fall thru the 34 MA on the 30-minute chart as highlighted this morning. There goes 1400....... XLF 15.73, here it is, bulls must bounce it or failure occurs........ AAPL is down 3%......Note Added 11/7/12 at 11:11 AM: Tech is leading the downside, bearish. XLF and RTH both failed. Markets are in serious trouble right now. Video of Greece turmoil and people in the street is not helping markets. Continuing to play catch-up right now..... SPX is printing 1397, check that, now a 1396 handle......Note Added 11/7/12 at 11:17 AM: Dow Industrials now down over 300. The 8 MA stabbed down thru the 34 MA on the SPX 30-minute chart signaling bearish markets for the hours and days ahead. Watch the NYA now printing 8138. Keystone's cyclical signal is the NYA 40-week MA which is at 8003, only 135 points lower. If this fails, it will indicate a cyclical bear market moving forward verifying the UPS indicator. Keystone's SPX 150-Day MA Slope Indicator will likely also trigger back into a Cyclical Bear this evening. With today's market drop, now do you understand why Keystone made a big deal about the UTIL losing the 50-week MA, the trap-door? Those hinges were rusty and the WD-40 Keystone sprayed yesterday finally opened the door creating the market free fall today, a delayed reaction.Note Added 11/7/12 at 11:32 AM: Crash and burn, baby, crash and burn. SPX is under 1390 now, it is so close that the SPX will likely want to test the 200-day MA at 1380.37 moving forward. The 30-minute, 1-hour and 2-hour chart indicators want to see lower lows in price, or at least to test the LOD thus far at 1388.14, so the market weakness should continue into the afternoon. There is serious technical damage occurring. AAPL is over 20% off its top which indicates a shift into a bear market pattern for this beloved gadget producer.Note Added 11/7/12 at 11:52 AM: VIX hits 19. Watch XLF 15.73 and RTH 44.40 to see if the markets can recover. NYA is 8131 only 128 points above triggering another serious bear signal. The Nasdaq is down -2.4%. NYSE volume is above average with a run rate of about 120% of a day's average volume, this should settle down as the day proceeds.Note Added 11/7/12 at 1:44 PM: Note the RTH 44.40 and XLF 15.73 action, price flittering on each side. Both moved above their bull-bear levels which created the market buoyancy this afternoon. XLF drops back under, however, now at 15.71. Thus, bears want the RTH to drop under 44.40 as well to reignite the downward selling. The bulls want the XLF to move above 15.73 so a recovery move can ocur. Keep an eye on the bull-bear level for SOX at 378.60. The beat goes on today. The bears are growling. The SPX is at 1400. SPX S/R is 1413, 1409, 1406, 1404, 1403, 1399, 1397, 1394, 1391, 1389, 1388.33 (10-month MA), 1385, 1384.93 (150-day MA), 1380.43 (200-day MA), 1378, 1375, 1371.11 (Keystone's SPX 12-Month MA Indicator a major Cyclical Bear Market Signal), 1370.58 and 1370. The LOD today is 1388.14, do you think the 10-month MA is important? The old timer's that trade the large blocks on Wall Street use the 10-month MA as a fave indicator to monitor. Obviously, you want to pay a lot of attention to the 10-month MA moving forward. The first test resulted in a bounce.