THE PRE CLOSE

Markets are near the lows of the day with the RUT down about 5%+ while the NAZ is lower by almost 4%- DJIA/SPX acting a little better and only down 2 to 3 per cent.

The good news- we are now in over sold and buy territory for the major indexes- RSI (2) levels as follows:

SPX 12

DJIA 9

NAZ 16

NDX 18

RUT 20

MID 16

Tomorrow may be turn around Tuesday and with over sold conditions - now may be a time to dip in the toe for a short term trade from the long side.