A huge fan of Game of Thrones, one of my favorite characters is Daenerys Targaryen, Mother of Dragons.

After losing her husband and child, she helps hatch three dragons from their eggs. At times, although they regard her as their “Mother,” she struggles to maintain control over them.

Much of the same can be said about the current market.

We haven’t mentioned the Chinese Year of the Fire Rooster in a while. It’s ironical to me that the ancestral dinosaur of the rooster has been uprooted by its more sinister relative-a fire breathing dragon.

Depending where one looks, one can either see loss or hatched eggs.

Retail (XRT) suffered more losses today. Making a new 2017 low, conceivably the retail weakness is finally coming home to “roost.”

Meanwhile, our other fertile heroine, Sister Semiconductors, closed green. Hatched eggs.

Nevertheless, the Market of Dragons is struggling to maintain control over the four indices.

Like Daenerys’ largest dragon, Drogo, the Russell 2000 appears to have broken free and is currently living close to the 50 daily moving average.

So while yesterday’s bear fang magically became a crystal pendant, have today’s dragon teeth grown longer and sharper?

On the plus side, the Dow continues to wow the market. Marginally down and holding the runaway gap, the appetite for blue chip stocks is well, dragonlike.

In alignment with the technology and Semiconductor sectors, Nasdaq 100 held up well. Yet SMH, QQQ and DIA have little to do with the real measure of the economy.

For that we look at the rest of the Modern Family. Several members appear more dragon-like by the day.As their horns grow, so do their menacing presence.

Russell 2000 (IWM) flashes warning signs. Besides its too-close-for-comfort proximity to the 50 DMA, the slope of the 50 DMA has neutralized.

Granny Retail is in a Bear phase on both the weekly and daily charts.

Transportation (IYT) sits above its 50 DMA for now. However, should that level fail, a price of 160 is not out of the question.