THE EASY TRADE

Since everyone talks about the easy trade after it happens, lets see if this is it before it happens.

DJIA -170 NDX -26 and SPX -22.

The NDX is down near the 50% retracement level and the daily support line near 2,020. This may be an interesting area to try a long trade. CLICK ON CHART FOR BETTER VIEW.

The SPX down 22 and below the recent lows. SPX S2 also near here at 1,437, so maybe another level worth a long side shot.

The DJIA - near the recent lows at 12,975- S2 support also at 12,986;

So lots of areas lining up- the problems,

Market internals - very ugly;

Financials- very ugly;

SEMIS- bad but not awful;

And the RSI (2) numbers:

SPX 18

DJIA 20

RUT 6

NDX 33

COMPQ 22

MID 6

OEX 20

So I am looking for a quick long side shot with half around these levels and more probably near the close.