Complete Tuesday Game Plan

Markets slumped at the opening today, gathered some stream midday, then fell later to finish lower but off worst levels of the session. The Nasdaq lost 1.1% today but did recover 26 handles off the morning sell off low. It found support roughly around the round 3300 level. The S&P 500 fell 1.2%. Both benchmarks are getting closer to correction mode, with the Nasdaq off 6% off its most recent high, with the S&P 500 is 6.8% off of its own recent high. Talking about correction territory, energy almost touched that 10% threshold precisely this morning, but found a bid precisely at its 200 day SMA. Many stock in the space rebounded smartly. APC SWN closed near session highs, and something seems to be brewing with RRC, which recorded a very bullish outside day today, finishing the day more than 4 handles off its intraday low. Semiconductors are showing signs that they want to join the correction conversation. After last weeks outside week losing 2.3%, the SMH is almost 8% off of its most recent 52 week high. Some of the better looking charts in that sector were hit today NXPI and SMTC down 6 and 4% respectively today.