Stocks Lower into Final Hour on Weakness in Market Leaders

Bottom Line: Overall, today's market action was bearish as the major averages are finishing mostly lower with slightly negative breadth. Market leading stocks substantially underperformed the broad market today. The underlying tone of the market wasn't very good. The fact that the broad market couldn't generate a better bounce on unexpected strength in financial shares is a bad sign. It still looks as though we need to see a capitulation day to provide a better bottom and set the stage for a strong rally into year-end. I am finishing the day 50% net long.