1054

1054 now becomes the important level for the bulls. They must defend that level or we will be heading to 1000 in a Jiffy

Sold off

Well very interesting that we sold off in the later part of the day. To be honest I really was calculating a bounce into this week but I guess the bounce was yesterday retreat off the huge gap down. We will see how the week progress.

Small Gap

Opening with a small gap up. We got a nice turn around tuesday now lets see what will happen today. I am more on the sideline more than anything else

Ugly

Very ugly out there coming into the first hour, still watching

BAC breaks $15

BAC breaking lower out of $15 is significant of the banks weakness. MS is also making a 52 week lows, very significant here.

Heavy Gap down

Huge gap down. DOW is off 280 in the first 10 minutes. I am looking at the first hour bracket to see what they want to do.
Oil is also getting killed

Overnight

Overnight futures seem to be crashing. Still three hours before the open but it seem we will be below DOW10K at the open and S&P looking for some new lows out of the flash crash. We will see what develops