UGLY CLOSE

One question for the non tiffany network (CNBC), if Maria obtained the info from Big Bad Ben over the weekend, why did she wait until after 3:00 PM eastern time to make it public?

The markets closed lower in light of the Fed Head news with the Brokers, Small caps and GOOG taking the biggest hits. Market internals also were ugly with 1,100 more lower than higher. The SPY closed down a buck and change leaving a Pivot Point for tomorrow at the 130.85 level.

I suspect we may get a selloff at the open tomorrow and then go higher as the markets digest the news and react to the oversold levels. In addition the brokers such as BSC MER GS and LM are getting very oversold and may be getting ready for a bounce. I did buy some BSC into the close with a stop a bit below the 50 day SMA.