CLOSING LIMP

Markets again close at/near the lows as the banks and financials continue to stink up the board. DJIA -270, NAZ -60 and SPX -34.





Other bad sectors include homies, real estate, oils, defense, airlines and small cap value.





The bright side, we may be back to some support at 47 on the QQQQ, 200 day SMA at 2507 on the NAZ DOG- markets have turned around a few times there- also the 38% retracement level of about 1440 on the SPX.





Market internals about as bad as they get with 2400 net red on the NYSE and 1750 net red on the NAZ.





Volume at a bit over 1.1B - about 95% to the downside- hmmmm.





Every DJIA stock lower.





VIX up about 17% and a hair above the 10 day SMA and 30%+ above the 50 day SMA.





WINNERS- RYAAY XMSR CELG SIRI ADBE MRVL SNDK CI AEP ASEI SNDA;





LOSERS- ACH CF SNP DRYS CRNT RIO TBSI NILE CMED NVDA FSTR LEH ATI MS AA GS HIG JOYG NVDA MXIM GRMN;





Hard to believe that we are still about 525 points off the DJIA low from 12 days ago- just shows how far we have come so fast - for all those that thought they might have missed the bottom. Not sure we get back to the lows - too easy - but I suspect fed rate cut coming soon. They may not be able to take much more pain.



FWIW:

Two day RSI's:

SPX 12

DJIA 13

RUT 11

NDX 15