THE SWOON

So much for dull as the market is down 125 DJIA points and 10 SPX points on a 1) awful GM sales; 2) OBAMA reaching the magic number per AP; 3) further weakness in LEH; 4) crude down over $2.5; - or something else- what ever its way down and my suspicion about not buying yesterday or this morning proved to be a wise move.

RSI (2) levels hitting oversold areas as follows:

SPX- 10
DJIA -6
NAZ -18
NDX -19
RUT -16
MID -22

Brutal spree of selling with the next support area near the 1370 level on the SPX- not sure that will hold this afternoon as everything looks ugly.