Stocks gapped up sharply at the open this morning and traded higher for a short while, but oil prices climbing on U.S.-Iran war news sent them into retreat with most names closing lower on the day. It was yet another day of ruthless chop out there, which is exactly why I'm still sitting in cash tonight.

Let’s start the charts with two leading indices.

My short-term trading oscillator closed on the edge of oversold territory with a reading of -39 today. This suggests that an oversold bounce in the market could come very soon. Oversold conditions begin at -40 and lower.

Let’s look at a few cybersecurity stocks which are holding up in this tough market.

Now let’s review some other stocks.

I will see you all back here Wednesday night for more charts, and tomorrow in the chat room.

Daniel J. Zanger