100 TO GO

That is correct, only 100 points lower and the DJIA will be leaving the 11K's and joining the 10K'S.

The markets closed on the lows with 3,500 more losing stocks than winning ones. The big losers were the Small cap group with the IWM down 2.75%. Other underperforming sectors included Homies, Techs, Brokers, Oils and Biotechs.

The Volatility indexes ramped higher as the VIX closed at 18.65 up 31%, and the VXO up to 17.85 and up 36.5% on the day. The Volatility indexes are giving buy signals as the VIX is now 13% above its 10 day SMA and the VXO is a mere 17% above its 10 day SMA. I am not buying the signals for now as I suspect we get a probe lower in the morning. That may be a buying opportunity but I will wait and see how the market shakes out mid day tomorrow.