All of the above charts are telling me one thing - leave yourself open to some more selling. There was a clear failure at the test of the down sloping 200 DMA on the NAZ. The early move up was on tepid volume and the afternoon sell-off was on increasing volume into the close. The result was a bearish shooting star. The little curving pattern forming on the McClellan Oscillator is also interesting. We'll follow-up in a few days to see how it pans out. Leadership for this afternoon's sell off was courtesy of large cap tech names we know and love - AAPL, RIMM, BIDU, GOOG...

The HANS daily chart below is setting up a nice bear flag after a wide, high volume flag pole.

Companies trading higher in after hours in reaction to earnings: NSYS +22.9%; SINA +8.8%; NEON +8.4%; A +4.5%; SSRX +4.1%; TSTC +3.9%; PRGN +2.2%... Companies trading down in reaction to earnings: SSTR -34.2%; PRCP -20.0%; CTRP -10.0%; SNS -8.1%; OESX -6.5; STV -6.0%; GPIC -5.0%; BRCD -3.5%; DNN -3.0%; SLRY -2.7%; ASYS -2.2%... Companies trading higher in after hours in reaction to news: SDTH +2.8% (announces proposed offering of $100 million convertible senior notes); TYPE +2.1% (announces resignation of Chief Financial Officer Jacqueline); GSAT +2.1% (announces appointment of Thomas M. Colby as chief operating officer); APC +2.2% (signs agreement with Anadarko as foundation shipper for bison pipeline project); AMPL +2.0% (Commenced an Offer in Israel to Purchase Shares of Gadot Chemical Tankers And Terminals); UCFC +1.9% (names James Reske CFO and Treasurer); GERN +1.8% (STEMCELL Technologies licenses Geron intellectual property for the development of media and matrices for stem cell growth); TSO +1.2% (says early estimate of 1500 gallon spill "unfounded" -- Bloomberg); CHDN +1.1% (files suit against KHBPA, KTA)... Companies trading lower in reaction to news: CCU -1.5% (announces extensions to its offer expiration date and consent payment deadline in tender offers and consent solicitations for senior notes).