If you look only at the final boxscore…DJIA -1,Naz -14, SPX -1.8%, you would think it was a pretty uneventful day. Unfortunately, if you go to the underlying sectors/ stocks you see a whole different picture.  Simply, all the important components of the market lagged quite badly. First and worst was the SOX (-3%) as collateral damage (networking stocks, telecom equip. etc.) occurred from the Opticals as China was blamed in FNSR weak guide.  There was more weakness in cyclicals such as materials, industrials. Here you see weakness in the widely followed steel, coal stocks.  Unfortunately, the financials couldn’t make it back to back ‘good’ days (but still decent), but that’s hardly a shock as expressed yesterday.  There’s some talk of rotation starting from tech to financials, but there needs to be a bigger ‘catalyst’ then BAC it would seem. In all, just another day in the no-fly zone for the broad market with nothing to add as a long trade possibility within the Shadowlist and it's components.