Markets Close

And there it was. A stock crushing, thank you GOOG. The DJIA closed -104 Nazdaq-26 and the SP500 -13.5. These indexes closed at not quite the lows of the days but ugly enough. The indicators I follow reveal a bounce is probably due and I would not advise selling here. The Volatility Sisters ran up on the day and they are no longer in oversold territory. The price action reveals the markets are close to a short term bottom. Remember, the trick is to buy lower and sell higher. Bob Pisani of CNBC fame was all excited yesterday about how well the market was acting and I thought it was a nice short term sell sign.