The markets and ETF's were off to a rough start as investors continue to respond to the new immigration ban signed by the President. The concern isn't so much on the ban, rather the types of actions the new president is taking. It will take some time to get used to a new leader. Until then many expect more volatility based on his actions.

The S&P 500 (SPY  ) sold off through the beginning of the week, but it should be noted that prices still remain just off all time highs. So far the selloff has been exaggerated by the media, but really the SPY has fallen less than 1% from the high. Technical traders responded Tuesday to a short term support area and briefly bought up shares of the ETF.

The Nasdaq 100 (QQQ  ) continues to be a driving force for tech stocks. While it has temporarily pulled back this week so far, a positive earnings report from Apple has the QQQ already headed back towards highs.

The Airline sector has been off to a rough start this week as well. Names like Delta (DAL  ), and American Airlines (AAL  ) have all suffered in response to the immigration ban. The concern is that any retaliation by the 7 banned country's will hurt their bottom line. There isn't really a good ETF to play this space so investors have to drill down to individual names.

Lastly, the dollar (UUP  ) hit new, 2 month lows Tuesday as it continued to slide off its high. Since the start of the year the dollar has suffered almost everyday with only small bounces along the way. Technical traders would most certainly call this a short term down trend. Since January 3rd the dollar is off by more than 4%. Technical traders are claiming support here in the $25.50 area but so far have yet to jump in.