Lots of folks got bit by a bear fang on Sunday.

With good reasons.

The Fed has yet to confirm or deny an interest rate rise. Unsettling White House tweet storms dominated the news. Rising geopolitical tensions in East Asia after North Korea fired four ballistic missiles weighed on stocks.

Nevertheless, most of the market brushed off the bad news bear fang.

Beginning the session with a gap down, the S&P 500 went from a classic bullish runaway gap to a potential scary island top.

However, the island top did not pan out.

Although a small index with a basket of 30 blue chip stocks, the Dow Jones held on to its runaway gap.

Nasdaq 100 respected support levels and closed within last Friday’s range.

The Russell 2000, simpatico to his wife Granny Retail, did not behave as optimistically as his bejeweled fellow indices.

IWM held the bullish phase, but closed weaker than his brethren by a significant margin.

Does the photo above illustrate that when the market gives you bear fangs, should you make crystal pendants?

Granny Retail. I know I’m a bit obsessive about her. XRT fell, yet held the early 2017 low at 42.11.

Think about it though-while DIA holds a runaway gap to new highs, our Retail sector gets accolades for not making a new 2017 low.

Regional Banks (KRE) likes 57.00. Good idea to think bear fang should that level break down.

Transportation, the driver of the van for gelato dessert last week, today didn’t look as happy. If IYT cannot retake 171-171.10, pay attention.

Biotechnology (IBB) is okay if it can hold over 299-300. With speculative interest, we look here for direction. Should specs feel confident, that will help the weaker Modern Family members. If they bale, another bear fang emerges.

Speaking of FANG, Semiconductors and Technology remain the bull in a China shop. Unaffected by a strong U.S. dollar or the prospect of higher rates, SMH and XLK (Technology ETF) will not quit.

However, a bull in the china shop is a precarious notion. Therefore, we will watch carefully to see if SMH holds today’s lows.