Futures were down decently an hour ago but as we write this, Qs actually up a wee bit with S&P/DOW down a small amount.

Yesterday could have been much worse. DOW was down over 200 and finished up. NASDAQ was down 130 but finished only down in the 50s…but still down.

More deterioration in growth yesterday as DOW holds up best. Not sure this is good news. We always would rather see NASDAQ lead and DOW lag.

Continue to go slow in here as stock is distributed. Remember, the deterioration was going on before the recent drop. Deterioration does not have to lead to a drop but in this case it did.