Yesterday the NASDAQ gapped down from Tuesday’s closing price, struggled to move up, and then closed near its low on slightly heavier volume than on Tuesday. It turned out to be a mild distribution day as the Composite closed back inside the trading range. Small cap stocks reversed from their prior day, and were hit the hardest among the major indexes. Gold and silver saw profit taking, and gold futures are down again this morning. The 2 day force index turned negative on 75 of the industry groups which indicates that the selling was fairly broad based as Declining issues led Advancing issues by a 2.61 to 1 margin in the Composite.  For stocks that are assigned to industry groups, it was close to a 3 to 1 down day. Read Full Report