Could Today Be The Break Point?

Good Morning! Pre-Market futures are mixed this morning after Wal-Mart Cut its profit forecasts, jobless claims came in higher than expected, and the trade gap narrowed. Overall, I think today will be either one of two things after we open. We could sell off hard and fast then see a very modest rally begin to form and stabilize. Or, we could see a small rally then keep going down because there is really no support near by after we break the lows from October. Again, its important to tighten up your stops and let these winners run their course. Happy Trading!