The IWM, QQQ, and MDY all broke support on Thursday. These represent the mid-cap stocks in the SP500. The IWM broke on heavy volume which suggests a possible follow through on Friday. The next major support level for the IWM is at the 200 ma, which is 113.91.

As Ron Haydt mentioned in his Thursday analysis, ‘ seems that the market is moving towards a ‘risk off’ period’, with profits being taken before most earnings are announced. His analysis is here on Youtube.