UGLY CLOSE

The markets closed on their lows as another fed gov insisted on telling the tales of inflation woes and does anyone think that W is happy with Stock Market Lower Ben. Just what W needs in addition to his unpopular war and low approval ratings is a tanking stock market.

Anyhow, the VIX closed at overbought levels and is giving the 110% of 10 day SMA buy signal and the SPY closed at a 2 day RSI of under 10, not that it means much in a market that is in a strong downtrend. Also, note that the SPY/SPX closed at or just below their respective 200 day SMA, so if these markets are going to be saved, now is the time.

And GOOG, with their blogger down most of the day, and when it was working it wasn't working very well. Probably tooooooooooooooo many bloggers looking for free websites. It works great now at 9:00 at night.