Editors Note:

If earnings for the rest of the week continue this trend it will be a rocky road. We are very close to seeing earnings estimates for Q1 turn negative and that will be very bad for the market. I would not be surprised to see a retest of the lows should that happen.

Nearly half of the Dow's loss was Caterpillar and there are 12 more Dow components to report this week. Apple reports on Tuesday and bad news there would be crippling for what is left of market sentiment. Futures are already down -12 tonight.

 

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