Although the stock market was already oversold, big cap stocks took the lead on the downside and dragged indexes. That was confirmed by the list of stocks hitting fresh new lows and breadth that wasn’t as bad as the previous days. We observed some selling pressure on the NYSE and on the Nasdaq as measured by our buying/selling index. Options traders were again active as they were buying puts to protect their positions. The S&P 500 is barely holding the lows of the winter.