Well, we finally got the selling that everyone has been looking for.

But will we have the courage to buy at the next low?

The easy part is wishing for a pullback in prices to buy some stock. The hard part is to actually pull the trigger and buy when the time comes.

These bullish percents show the damage to the market internals.

These two Dow indexes broke down today.

Junk bonds broke down, but the damage could have been worse since the close is still above last week's low.

There really isn't much point in showing these charts because everyone already knows the market broke down. I guess I was thinking that these leading indexes would break down, and then a few days later the broader indexes would follow lower. But it all happened on the same day.

Even on such a bad day there were a lot of new highs although most were probably in the first few hours of trading. It is never good to see a lot of new highs, and a lot of new lows on the same day. This isn't too bad, though.

This is definitely a chart to watch. It isn't much of a sell off if this index doesn't head lower.

This chart is in the category of "market risks". Some European banks are scary, or maybe it is just lingering jitters from our own 2008 melt down. I won't hit the bottle unless the 40-week is broken.

Martin Pring showed this chart in his weekly column (Martin Pring is awesome). The weak US Dollar is at work here. The US stock market may be starting to underperform the rest of the world. More time is needed before calling this a major trend change.

I would post the Leader List, but there was so much movement that I am having trouble sorting it out. Plus, let's see what happens if the market follows up tomorrow. In general, though, foreign stocks did a lot better than US stocks today.