Simple observation - the gap fade and breach of support was a vertical swoon, the rally off of the midday swing low was somewhat choppy and the late day profit taking was also vertical accompanied by very high volume. Conclusion - doesn't bode well for the bullish camp.

Companies moving in after hours trading in reaction to earnings: Trading Up: GIII +9.0%; DLLR +4.3%; TTWO +3.2%; QWDC +2.5%... Trading Down: MFRI -18.1%; LULU -4.8%; SHFL -8.6%; SORC -2.3%; ASTM -1.8%... Trading Down: OMCL +3.3% (will replace Chaparral Steel in the S&P SmallCap 600); ROH +1.7% (executes $1 bln accelerated share repurchase); CHCI +1.0% (lowers projected borrowing costs); BKR +1.0% (names Stuver as acting CFO)... Trading Down: TRBN -7.3% (preliminary analysis of Phase IIb results with TRU-015; results show improvements in RA signs and symptoms compared to placebo); EXEL -5.9% (public offering of common stock to sell 7 mln shares); HA -4.3% (reports August traffic statistics); BZH -2.0% (receives purported notice of default related to its convertible senior notes); IHS -1.8% (ESRI and Jane's Information Group forge strategic alliance); GNK -1.3% (announces sale of handymax vessel); DECK -1.2% (in 8-k, says that its Board of Directors concluded it is necessary to restate previously issued consolidated financial statements for the fiscal years 2004-2006).