Wednesday was another tough day for the stock market. Like Tuesday, the largest index declines yesterday were in the NYSE and the S&P SmallCap 600 (SML), which both fell 1.2%. The S&P MidCap 400 (MDY) gave back another 1.3%, and the Dow Industrials lost 1%. In the last seven days, the NYSE has dropped over 3%. In nine days, the SML is off 3.4% and the MDY is down 4%, while the DJIA has given back 4% over seven days. All four indices have broken through their 50-day averages for the first time since early/mid-April and all have given short-term sell signals by way of bearish five-day/13-day exponential moving average crossovers. Sector damage has been broad from the recent highs, with Real Estate declining over 5%, Energy dropping 4.5%, Financials and Industrials off almost 4%, Healthcare down 3.4%, Staples and the high-flying Utilities losing 3%, and Materials and Discretionary dipping 2.8%. Only Technology and Communication Services are holding near their highs. As we said late last week, market breadth has turned negative quickly after a strong period from mid-April to mid-May. NYSE breadth was a weak -2160, the second-wo