Selling from the get-go, continued all day, a typical trend day.

Notable New Highs: MS China A (CAF), Denstply (XRAY), Fluor (FLR), Oceaneering Int’l (OII), Onyx Pharma (ONXX), Nuance (NUAN), and Weatherford (WFT).

Notable New Lows: Health Management Assoc (HMA), Coldwater Creek (CWTR), Fifth Third Bancorp (FITB), Blackstone (BX), Finisar (FNSR), and Wal-Mart (WMT).

I’ll feature a monthly chart of Wal-Mart (WMT) for some perspective. The stock price has gone nowhere lo these many years and has massively underperformed the S&P 500 since the start of the new bull market in early 2003. The stock looks dirt cheap to me, but I’m just looking at its numbers and not anticipating a recession. The stock chart is saying that the “support” of many years right around $42 may give way.

This is another case where the chartists would say run away and the fundamentalists would say come to papa.