Action here in the market doesn't surprise me because I felt for the last two years we would get a meaningful correction in the markets. When I first analyzed it two years ago I concluded we would at least hit the 2002 lows made after 9-11. We are below that right now on the DOW but as most of you know the S&P is the better barometer of the markets.
I have no clue what they are going to do here! Today every single sector in the S&P was down, that's just terrible and I bet many will come out and say today was capitulation of some type but I have no clue. All I am willing to do is short the spikes on the financials and play the market intraday. Any gap up is free money short and the way we are looking right here I thing the next level will surely be 714-718 on the S&P. Do we get there tomorrow?? possible but it should be a good buy if we do but again you have to watch all your signals because the market is weak as a rat.
Wonder if they bounce us and call this a double bottom? We will see soon enough
MARKETJEDI
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