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A mini market implosion yet again today, something we've seen more and more over the last few months - where the NASDAQ decides to pull the rug. A sign of worse things to come? It very well could be, but it's still too soon to tell if the equity markets are done running on to new highs without any sort of significant relief along the way.

It doesn't take a brain surgeon to understand stocks have definitely gotten a little ahead of themselves - even with S&P 500 earnings' projections going forward continuing to look pretty darn good. But that's just the way the markets work, take 'em down, clean 'em out and work their way higher again.

More importantly right now, where can they go before they settle? The guys over at Elite Opportunity Pro think 5,900 on the NASDAQ is possible. It's something they've been talking about for a while now, and that could end up being where that index wants to go before it might be ready to put itself back into bullish mode.

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More market pressure following an absolutely tremendous July. Well, up until the end of the month anyway, but who's going to complain if you've been heavily invested in one of the longest bull markets in recent history? Now, it's more of an issue surrounding the old risk vs. reward debate.

The DOW just keeps on going while the rest of the markets continue to struggle to find any sort of momentum over the last four days now. But like I keep saying, the major averages have had this crazy habit over and over again of "looking" like they're about ready to fall apart, only to make new all-time highs every single time.

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Another volatile day today to close out July. With the DOW already having made another new high today, the NASDAQ and S&P 500 continue to run into pressure - even though they both opened higher on the open this morning. However, the S&P 500 is still managing to maintain its recent series of higher lows over the last few days, so it's possible it too could rally back to another new high over the next few days.

Small caps have also run into significant pressure over the last five trading days now, which honestly doesn't add to the markets' confidence level right now, but we'll see if they can get things turned around, along with the NASDAQ over the next few days.

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Happy Friday everyone. What a day yesterday, eh? NASDAQ gets clobbered again. What's so amazing about that type of event lately - which by the way is fourth time in less than three months - is the breadth and the speed of the selloff.

In other words, it's enough to make anyone think these markets continue to trade on extremely shaky ground - as if the rug could be pulled in a New York minute. However, somehow they always find a way to come roaring back after the scare is over.

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While the markets continue to rip higher and higher on some excellent earnings reports from some of the big tech bellwethers, we've finally achieved a level of at least a little concern anyway, and we're already seeing at least a short-term selloff. Stocks and the major averages in general can't just keep going higher and higher without any sort of relief along the way, so it's probably time investors start considering their long-term strategies.

Basically, are you a Buffett style buy and hold individual and stay the course, or are you someone who trades along the way buying and selling when there's profits on the table? It's an important thing to consider for many reasons.