I’d have to call today’s action mixed. Yes, the indices closed higher on better volume than yesterday, but they also closed well off of their highs. Sellers stepped in early to squash the enthusiastic morning pop and created shooting stars in the indices and a ton of stocks. 21% of the stocks in my tradeable universe made shooting stars today. That’s a lot of potential shorts, but they need to be confirmed by closes below today’s lows.

Here are charts of the S&P-500, YHOO, and ALTR: