Momentum Upside Down
This means that the market has restarted the Momentum shift of selling all high fliers which either have forward PE's in the triple digits or no forward PE at all to speak of.
FireEye proving this momentum shift in the afterhours, and you can't hide in companies that are actually earning money either as witnessed by RGR today and by WFM. Whole Foods in afterhours is being decimated like its another money losing internet stock like Yelp or Twtr, no pun intended.
How long this negative momentum shift lasts is anyone's guess but my guess is probably until mid July. That is usually the hostorical start of the summer rally but I will not be holding my breath.