BREAKING NEWS

Futures are lower this morning on the heels of some overseas dollar problems and a selloff in Europe. Checking in on some technical analysis, the SPX is way overbought and the stochastics continue to pretzel twist above the 80 line and the 2 day RSI reading is at an extremely overbought (so what) 96. The VXO is way oversold and a full 8% below its very low 10 day SMA of 10.22. The 5 day RSI is also way oversold at a reading of 22. Of course these reading don't mean much as the markets seem to go straight up and those waiting for a correction have been disappointed for many months.