GROWLING BEAR

So the fed guy Michael Moskow opens his yap about inflation becoming a problem and the equity markets are taking it on the chin. Never sure why these guys go on these speaking tours, but they do move the markets.

There are now 1,600 more losers than winners and GS(immune to fed speak) is now only up 2 bucks. The other brokerage stocks are all higher led by JEF and BSC.

The SPY has traded down and thru the daily support area of 128.25 and may be getting to a buyable level. The 2 day RSI has also broken to the 10 level and the VIX is back to 13 which is about 8% above its 10 day SMA.

Adding to the ugliness of the day, the Red Sox just beat the Mariners on a walk off homerun. UGH.