NOT MUCH INSIGHT
I really don't have much too offer as the big question is how oversold can the markets get. The answer is more oversold. So we wait. Will the carnage end today? Wish I knew.
Market internals are about the worst seen in a long time as more than 3,700 more shares lower than higher. It is nice to see that the SPX and DJIA indexes are doing worse than the Naz, so maybe an indication of a turn.
The VIX is 2.4 points higher bringing it up to 15.75 and over 22% above its 10 day SMA. My gut tells me we will get a nice snapback rally, the only question is when and from what levels as lots of stocks were puked up today and the downside volume is trouncing the upside as capitulation seems near.
posted by DAVID at
3:10 PM
3 Comments:
Where's the PPT?
I COULD USE THEM
The PPT is busy trying to vote for their favorite American Idol contestant. Getting lots of busy signals trying to get through. Maybe they'll show up tomorrow.
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