Afternoon Update, Ugly Fast, But Likely 1-Day Oversold

  Small Caps are posting a failed breakout.. (15m) MAGS and SOX have the first element of failed breakout… MAGS (15m) the low conviction breakout attempt and price returning back inside the flag. SOX (10m) Probably more troubling are the messengers of the market (Dollar, Treasuries, Gold, Crude, HY Credit, Volatility). The flip of stocks…