Markets were weak all day and closed at the lows despite what looked like a rally attempt in the late afternoon.

DJIA -460, NAZ -103 and SPX -57 and breaking all major support.

MS GS crushed along with the banking index- bright area - metals surged with gold closing near $870.

Every DJIA stock in the red with the biggest losers being AIG JPM C and AXP.

VIX- higher by 19% and closing at/near the high for the year at 36+;

Pretty much in uncharted territory technically as we closed below the key 50% retracement-

I still haven't bought although was tempted to buy that afternoon lift but thought better of it - did sell my SKF - and would like to get in a long UYG trade- so waiting.


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