The Correction Has Started

• SPY, DIA, XLF, XLE, XLI, XLB, XLK (held and closed above barely) , and a host of other leading sectors closed below their 20dma today. So draw your Fibonacci levels from the low to most recent high, and then you'll have the areas of support clearly defined. I'm looking to play this actively so I'm looking at longs in some of the inverse funds ie: SDS. I closed ERY way too soon. It could still run at it's 50dma if oil can roll over here. Looking to these for profits, but most importantly for when they start to roll over. If that happens while the long only counterparts are nearing key support levels then I'll know it's time to get net long again. The shooting star formations in many of these were the warning signs that the correction was near.
• MSFT threw up a shooting star today as everyone starts to recommend it now. My IT guy won't stop raving about Bing and project NATAL. And then another data point from an article read about data centers makes me like it even more. Live gaming could pick up dramatically if Natal is a success. It could pull back to the 200dma / 50dma area for support.
• More detail in tomorrow's notes